The stress of getting out of debt is often caused by not having the proper information organized and ready to be processed. This is most often the case when it's time to sit down and actually apply for a debt consolidation loan.

While each application may vary slightly from lender to lender, there's some basic information that all lenders will generally want to know before granting you a loan designed to consolidate your debts into one low monthly payment.

The first is the total amount you're looking for. In order to get this, you need to take your current bills and find the bills you want to consolidate. Add up the total amount owed, including interest — this becomes the total amount of the loan you're requesting.

The second piece of information you'll want to have handy is the total income you have coming in. Lenders want to make sure that you will be able to repay the loan in a timely fashion in a manner that will not take away from your other expenses. If you don't have sufficient income, you may want to try to raise additional sources of income before apply for a debt consolidation loan.

The third piece of information you'll need to have are good character references. This means people that already know you and know your character well enough that if they were called, they could speak well of you and your ability to take care of your responsibilities. While not all lenders will ask for references, some will and it always pays to be prepared.

Overall, the road to getting out of debt is long, but it doesn't have to be hard if you look at all of your options. Debt consolidation is a great way to get a manageable monthly payment you can live with and get closer to the debt-free life you deserve!