Free debt consolidation is something that many Australians are looking for and it does exist in some forms.

Whether it exists really depends on your definition of free debt consolidation. There are some companies who will charge you no establishment or ongoing fees for a debt consolidation loan but you will still have to pay interest on the loan.

Of course, if you are getting a free debt consolidation loan at lets say 12% and you are paying off your credit cards with interest rates at 17% then you are probably going to be miles ahead.

If you are looking for a free debt consolidation loan which has no interest component to it then it may be hard to come by as the interest portion of the loan is how the company giving you the loan makes its money.

Have a shop around and to find out if a free debt consolidation loan really is free ask the company about their policies on:

• Establishment Fees
• Early Payment Fees
• Ongoing Fees

Related Articles:

• How does debt consolidation work?
• What are the different types of consolidation loan?
• When is a debt consolidation loan the wrong choice?
• Why does consolidation work with most loans?
• Why is debt consolidation in australia growing in popularity?
• Why credit card debt consolidation is often very effective
• Student loan consolidation is not as common in Australia
• Why debt consolidation can be hard to get if you have bad credit
• What is bill consolidation?