 TITLE: Is a Debt Consolidation Loan Right For You? CONTENT: How to Get a Debt Consolidation Loan\n------------------------------------\nMany lenders allow you to get prequalified for a loan before you submit an official application. This process typically includes a soft credit check, which won't hurt your credit score. If a lender doesn't offer prequalification and several others on your list do, it may be best to avoid the one that doesn't.\nOnce you've committed to a lender, submit an application. This typically requires you to provide some personal information, employment and income information, and how much you're hoping to borrow.\nIn some cases, a lender may ask you to offer documentation to prove some of the information you've provided. That can include things like a copy of your government-issued photo ID, pay stubs, bank statements and proof of residence (such as a lease agreement or utility bill). Have these things ready before you apply so the process goes more quickly and smoothly.\nBefore you pull the trigger and apply, though, figure out what the lifetime cost of the loan will be, then use a credit card payoff calculator to see what you'd pay if you continued making payments on your credit cards instead. Comparing these numbers will help you determine if you'll save enough to make the loan process worthwhile. END