The Curious Case of Debt Payoff App: Mirage or Reality?

debt payoff planner app

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What is the first thing you think of when you hear the term ‘debt payoff app’? What all images does this term evoke in your mind? Maybe Angel Godmother or a patron of poor coming to their rescue? Or maybe it’s just that your past experiences with debt payoff haven’t left any rosy impressions on your psyche and terms like best debt payoff app don’t strike the right chords inside of you anymore.

Debt is anything but easy to understand

You see that debt is a colossal issue; there is no one size fits all kind of a solution for getting out of debt and there will never be one. To carve out a road to success in case of fighting off debt, many things have to be scrutinized; the kind of debt which a person owes, the size of it, the contemporary financial commitments that he/she is into, how long would the commitments stay, what is the cash inflow, whether the person is on a credit card swiping spree, the overall complexion of one’s finances and others…

Read more: How to Pay Off Debt Fast With Low Income

A word to the wise

A wise man will tell you that if you have to get out of debt at any point in future, you will have to stop spending more than what you earn. The wiser man will tell you that it is easier said than done whereas the wisest of them all will deliver only these words in his divine sermon “Use an app”.

Back to square one?

We have come full circle, haven’t we? The best thing about the concept of debt payoff planner apps is that they let you keep a track of your cash inflows and outflows that are like a founding stone on which the skyscraper of your debt payoff strategy is built. Besides, they help you understand what all options you have, for instance:-

  • Categorize the debt that you have
  • Commit your financial reserves to a particular type of debt
  • Help you monitor your progress
  • Lets you know what all credit cards are backstabbing you and suggest alternatives
  • Help you investigate your worthless expenditure
  • Readily built a new debt payoff plan in case some urgent expenditure gatecrashes the party

Although, you won’t get all these functions in the free version of the apps listed below, as the apps have premium paid versions which let you use all functionality but still the free features will sort your finances or in other words remove enough fog for you that you will start seeing your destination point and work towards finding your way up till there.

Here are some of the sassiest debt tools:-

1. Unbury.me (in-browser)

Unbury.me is a simple yet effective app to break the shackles of debt (going by the essence of the name). What Unbury.me does is that it asks you to feed the loan amount, the name of the lender, current interest rate and other details.

The algorithm of the Unbury tells you that what minimum monthly payments you should be making so that the debt doesn’t piles up any further. Besides, producing two debt pay off strategies at your disposal, namely debt snowball and debt avalanche to get unearth yourself from the depths of the debt.

2. Debt Manager and Tracker (Android)

The dark horse in the stable of debt payoff planner apps. Its value is often undermined and overlooked probably because of its flair for simplicity. Debt Manager and Tracker is the bird’s eye view of your debt with a special focus on your credit card debt. It asks you whether you can spare any extra money towards paying off your debt other than the monthly payments that you are making and WHAM… works out a feasible debt payoff plan for you.

3. Mint.com Financial Goals (in-browser)

If you aren’t acquainted with Mint.com then it is safe to assume that you have barely used any debt pay off app, it’s like a phenom debt payoff planner app. Mint.com is a nirvana for people seeking support in the form of guidance in their day to day financial activities be it any sphere of one’s life. From budgeting to saving for college, to making other investments, Mint.com takes every possible element in the factual matrix and lets you know when you can get out of debt at the earliest.

Once you are well informed about the anatomy of the debt you are under, it’s advised that you automate your debt payments via apps that gives you the luxury of either creating a charge on your account for debt payoffs or creating a separate and dedicated reserve for your debt payments.

Here are some apps which will let you through:-

4. Debt Payoff Assistant (iOS)

A staunch proponent of debt snowball method, it guides you throughout your debt overcoming journey. This app has a knack for stats, it shows your progress via pie charts and other bar graphs which help you grasp the gist of debt-tyranny. The best part is you can work out various debt payoff strategies and evaluate your choices all at once.

5. Debt Control Free (iOS)

A follower of the same school of thought (Snowball strategy), debt control free is like a special task force or Emergency Response Team which focuses on one debt at one point of time. This allows you to channelize your energy into fighting off debt which are critical or which may sooner or later add to your woes.

On the off chance that your debt is HUGE; a labyrinth from you can’t escape in a lifetime and you need a fresh influx of money to break free from its (debt’s) vicious circle, there are other resorts to look forward to. Phew, you are not strapped for choices, here they are:-

1. National Debt Relief:

It could well be your lender of last resort. It’s one of the industry veterans in debt settlement programs and who knows, their program would turn fortune in your favor? The best part is that they don’t charge any upfront fees and they put years of experience and expertise to the table; all in pursuit of settling your debt once and for all that too in a considerable less amount than what you would end up paying otherwise. Besides, they offer all services which fall under the gamut of debt relief programs.

2. Debt Consolidation Care:

When too many types of debts are playing with your mind, it’s one of the safest bet to go for debt consolidation, so that you only have one payment to make at the end of every month and that too at a much-lowered interest rate. If things come to this, look no further than debt consolidation care. They will map out a perfect roadmap for you, this is what they have been doing for years.

3. Cura Debt:

If you have loads of credit card debt and unsecured loans, Cura Debt can fix your finances. Cura debt is happy to offer free debt relief consultation to people who are desperate to break out of debt. So, visiting its website and taking free counseling won’t cost you a thing. Moreover, they offer a variety of debt relief services and they are pretty good in their offerings.

As we said, there is no one size fits all kind of a solution. One has to have a clear understanding of what kind of debt he/she is into and then figure out what would work best for him/her. We hope we have done enough to not let you fall for false propaganda.

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