 TITLE: Step-by-Step Checklist to Getting a Consolidation Loan CONTENT: Understand How Consolidation Loans Work\n---------------------------------------\nThe concept is simple: You apply for a debt consolidation loan and use the money from the loan to pay off your other debts, often credit card accounts. Despite the name, consolidation loans don't require consolidating debt from multiple credit accounts. You can use them to pay off just one credit card. Some lenders will send the loan proceeds to your creditors directly; others send it to you, and you'll be responsible for paying off your creditors.\nYou'll pay off the loan in fixed monthly installments. If you do have debt from multiple sources, consolidation loans simplify repayment by giving you just one due date, payment amount and interest rate to keep track of.\nUse this step-by-step checklist to find the right consolidation loan and get approved. END