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:
“Life is not a matter of place, things or comfort; rather, it concerns the basic human rights of family, country, justice and human dignity.”
—Imelda Marcos (b. 1929)
“American thinking, when it concerns itself with beautiful letters as when it concerns itself with religious dogma or political theory, is extraordinarily timid and superficial ... [I]t evades the genuinely serious problems of art and life as if they were stringently taboo ... [T]he outward virtues it undoubtedly shows are always the virtues, not of profundity, not of courage, not of originality, but merely those of an emasculated and often very trashy dilettantism.”
—H.L. (Henry Lewis)
“Mr. Christian, it is about time for many people to begin to come to the White House to discuss different phases of the coal strike. When anybody comes, if his special problem concerns the state, refer him to the governor of Pennsylvania. If his problem has a national phase, refer him to the United States Coal Commission. In no event bring him to me.”
—Calvin Coolidge (1872–1933)