When you’re first taking out a loan for something you really want or charging your shopping spree to your credit card, it seems like a lot of fun. But later, when the bills come and your interest charges are mounting, it’s a headache. It gets even worse if you have to deal with debt collectors.
The best way you can take charge of your personal debt and get your head above water again is to use all the resources and tools you have available. The variety of apps meant to help with debt elimination are among those tools. Here are some apps you can try to lower your debt.
You’ll enter all your credit card balances, interest rates and required minimum payments into this free app. Then, the Debt Eliminator system will develop balance sheets, budgets, and charts that will help you devise an action plan for getting out of debt quickly.
You can also go online and discuss your options with the service’s financial advisors. It’s a great way to combine the worldwide web with your little smartphone.
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Ready for Zero
Ready for Zero asks for some personal information like your name, social security information, and details about loan repayment terms. The information is used to access your credit score and verify who you claim to be. It’s a useful app with modern security standards, but if you’re uncomfortable giving your private information, you can use another app.
It’s main goal is to help you increase your minimum payments to help you pay off debt faster. It will also give you advice on things like debt consolidation.
If you feel like your debt is overwhelming you, Debt Calculator is a great app for you. It has you work on paying down just one debt at a time. After you’ve taken care of the balance on one, it will move to the next, making the task feel more manageable.
Pay off Debt
This app costs $2.99, but most people find that the minor cost is worth it. Pay Off Debt been featured on sites like Yahoo Finance, Consumerist, and Daily Worth as one of the best debt apps on the market.
The main point is to help you prioritize your debts in payoff order. It uses things like calculators and overview data to help you stay on top of your payments and increase your minimum payments to reduce your balance faster.
Here’s another app that costs $2.99, but you can do a free trial first to make sure you like it. IOU is a simple approach to keeping track of all your debts in one place. You can also input personal debts to friends and family members to make sure everyone gets paid. It’s incredibly useful for making sure you get all your payments in on time.