Reaching financial freedom starts with regaining control over your existing debt. Luckily, it’s now completely possible to do that without the need of using complicated equations, calculators and lots of time to figure out what you have to pay and when. Technology really comes in handy here with various debt tracker services and apps. Here are some of the best loan repayment assistant that you can get online:
Debt repayment tools – online services to help you get rid of your debt smarter
Unbury.Me – it’s a free to use tool that helps you approach your debt in 2 ways. It has a built-in simple and straightforward calculator tool that allows you to either use the ‘debt snowball’ method or the high-interest rate method. Enter your debt information and it will figure out the best method for you to create a personalized debt repayment plan for you.
Debt Eliminator is also completely free. It was created by financial guru Suze Orman. And he made sure that none of the information that you enter is saved. Just go to their web service, enter your name, your overall debt amount and how much additional money you can put toward repaying your debt. The service generally uses the snowball method to pay the minimum balances on all your debts except one, towards which all additional funds will go. Once you pay that off, you will be paying off the other debt and it continues till you are debt-free.
Debt Calculator and Mint.com Financial Goals are also completely free. Enter all your financial information there and use their different options and variables to create your own personalized debt repayment plan that will lead you to being debt-free.
Unlike all the previous services LearnVest and Debt Snowball Calculator aren’t free and will cost you $19 and $7.49 per month respectively. They both offer some customized tools to create a more personalized plan for paying off your debt, giving your monthly incomes and abilities.
Best debt payoff apps – mobile apps to track your debt
Tally app is free to download and is designed specifically to help you manage your credit card debt on several credit cards. After scanning your credit card, it will determine whether you qualify for their program. If yes, Tally will start a line of credit from which it pays down your cards in the optimal order, using a high-interest rate method. Thus, you won’t need to think about which check to write, Tally will just pay off all your debts for you and you will only be sending money to the app. However, it will charge interest for all the transactions, which is between 7.9 – 19.9% per year, depending on your credit history.
Debt Payoff Assistant app is free and it uses the popular snowball method to help you get rid of your existing debt. Enter all your debt information, including all the due dates. The app allows you to track an unlimited number of debt sources, design multiple payoff strategies, and use its calculators to be motivated.
Other great mentions include Debt Control Free, Debt Manager (which will cost you $0.99 a month), DebtTracker Pro for $1.99 a month, Pay Off Debt ($2.99), and others.