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)
“In what concerns you much, do not think that you have companions: know that you are alone in the world.”
—Henry David Thoreau (1817–1862)
“Our ideal ... must be a language as clear as glass—the person looking out of the window knows there is glass there, but he is not concerned with it; what concerns him is what comes through from the other side.”
—Elizabeth Bowen (1899–1973)