Concerns
In recent years, reports in the media have raised concerns about the use of consolidation loans. The worry is that many people are tempted to consolidate unsecured debt into secured debt, usually secured against their home. Although the monthly payments can often be lower, the total amount repaid is often significantly higher due to the long period of the loan. Debt consolidation sometimes only treats the symptoms of debt and does not address the root problem. In some circumstances, snowballing debt may be a better solution.
Read more about this topic: Debt Consolidation
Famous quotes containing the word concerns:
“From a child’s play, we can gain understanding of how he sees and construes the world—what he would like it to be, what his concerns are, what problems are besetting him.”
—Bruno Bettelheim (20th century)
“For some years now, there has been proof that the devastating effects of the traumatization of children take their inevitable toll on society—a fact that we are still forbidden to recognize. This knowledge concerns every single one of us, and—if disseminated widely enough—should lead to fundamental changes in society; above all, to a halt in the blind escalation of violence.”
—Alice Miller (20th century)
“History in the making is a very uncertain thing. It might be better to wait till the South American republic has got through with its twenty-fifth revolution before reading much about it. When it is over, some one whose business it is, will be sure to give you in a digested form all that it concerns you to know, and save you trouble, confusion, and time. If you will follow this plan, you will be surprised to find how new and fresh your interest in what you read will become.”
—Anna C. Brackett (1836–1911)