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)
“We do not marry for ourselves, whatever we say; we marry just as much or more for our posterity, for our family. The practice and benefit of marriage concerns our race very far beyond us.”
—Michel de Montaigne (1533–1592)
“If we had a reliable way to label our toys good and bad, it would be easy to regulate technology wisely. But we can rarely see far enough ahead to know which road leads to damnation. Whoever concerns himself with big technology, either to push it forward or to stop it, is gambling in human lives.”
—Freeman Dyson (b. 1923)