Debt Payoff Applications Getting in debt can be so gradual that you don’t even know how you got there and realizing you have thousands of dollars of debt can be insurmountable. Paying off debt will take time, but having the right tools will make the process much easier. The sense of freedom that comes from getting rid of your debt cannot quite be described. If you’re struggling with debt, I hope you can use one of these debt payoff apps to get rid of your debts once and for all. 1. Debt Payoff AssistantDebt Payoff Assistant is a free app supported by ads. It works with iPhones, iPod Touch and iPad devices. There is no need to get a separate app for each one — information will be linked across all of your devices.This app allows you to use the debt snowball method as well as the debt avalanche method. With the debt snowball, you pay off the smallest balances first, giving you some quick wins that may help you stay motivated.With the debt avalanche method you pay off the debt with the highest interest first, saving yourself more money in the long run. You can also order your debt payoff in a custom sequence based on personal considerations.Debt Payoff Assistant lets you to track your debt payments as well as extra principal payments that help you pay off your debt faster. The app includes built-in calculators for the payoff date for each debt, as well as a mortgage calculator and a loan calculator.You can run charts and reports including:Total debtsDebts remainingTotal interest paidTotal interest savingDebt payoff dateDebt payoff time savingsEach debt gets a progress bar that serves as a visual motivation toward bringing down the balance. The app will also alert you when you have a payment due. There’s an option to customize what time of day you get your reminder.In addition, you can run a complete amortization schedule that shows you interest, principal and remaining balance for every payment of the loan. The payoff date calculator will show you how the monthly payment amount will affect the payoff date and total interest paid.Other features include passcode protection, export capability and a large numeric keypad for easier and faster entry. The debt delete lock feature prevents accidental deletion of debts and payment tracking.Cost: Free (ad supported).Compatible with: iPhone, iPad, and iPod touch. 2. Debt Payoff PlannerDebt Payoff Planner is a free app for Android users that gives you the option to use either the debt snowball method or the debt avalanche method. The app can help you determine which strategy will work best with your situation.To get started, you need to enter all of your debts, as well as your monthly payment budget — i.e., the amount of money you have every month to put toward your debts. The Debt Payoff Planner reviews all the information and determines the optimum debt payment plan and how long it will take you until you can be debt-free.There is no login required for the app. All you have to do is download it and enter your information. You can start using the debt payoff calculator right away and playing with different scenarios.The clean interface shows you information such as a payoff summary and a pie chart with your debt categories. It also includes payoff charts that simulate how making additional payments will affect your payoff date.In addition to the debt payoff tools within the app, you will also find helpful articles focused on how to pay off different types of debt faster such as student loans and credit cards. In addition, there are tips on credit card balance transfers as well as strategies for debt consolidation.Cost: Free (ad supported).Compatible with: Android phones and tablets. 3. DebtTrackerDebtTracker is an app for Android users that features a clean and simple design. It helps you manage your debts, account numbers, payments and much more. There’s no need to include your bank information to use the app. You can track all debt manually offline.The app gives you the option to track your debts by name, amount, interest rate and so on. You can also use the app to keep on top of who owes you money. For example, if your friend Pete owes you $50, you can enter it into the app and record the payment once it’s received.In addition to payments, you can keep track of penalties, interest rates and fees you may get charged during your payoff journey. The large numeric pad interface makes it easy to use and enter amounts.One unique feature of this app is that it allows you to track savings as well. For example, if you’re setting some money aside for an emergency fund in addition to paying down debt, you can track that separately within the app.The app keeps all your information safe with a passcode. If you get the Pro version you can sync your information with Dropbox, so it’s backed up to the cloud.Cost: Free (ad supported); Pro version is $2.99 (no ads).Compatible with: Android phones and tablets. 4. Debt FreeIf you’re looking for a flexible app that uses the debt snowball method, give Debt Free a try. Reminder: The debt snowball revolves around paying off your debts from the smallest to the largest balance and building momentum as you pay off larger and larger balances — like a snowball rolling down a hill.In addition to the debt snowball, Debt Free allows you to use other payoff strategies, including the debt avalanche method (highest interest rate first), highest balance first or a custom order. As you choose each strategy, you see how this affects your total debt, the amount of interest you pay and debt payoff date.The app allows you to track an unlimited number of debts and automatically updates your balances every time you record a payment. As you input all of your data, you can create an amortization table with a complete payment schedule.This allows you to view the interest, principal and remaining balance for each and every payment of debt. The built-in payoff date calculator shows you how your monthly payments will affect the payoff date and total interest paid.Debt Free also lets you calculate the interest and time savings if you make any extra payments, which can be very motivating. If you want to export your data, you can email your debt report and amortization schedule to yourself (or someone else such as your significant other).The interface shows a percentages progress bar, which can serve as added motivation as you see each payment visually lower your debt load. You can also view your debts in pie-chart format by category and remaining debt.Cost: 99 cents.Compatible with: iPhone, iPad, and iPod touch. 5. Debt ManagerDebt Manager is another app that uses the debt snowball method to help you pay off your debts. And like other apps on this list, it gives you the option to use different strategies, including the debt avalanche method, highest balance first, or a custom order.The app helps you organize, track and pay off an unlimited number of debts, including an individual analysis for each one. Payments may be entered as a percentage of the total balance. In addition, the app allows you to enter introductory interest rates such as 5% for the first year and so on.Other features include a monthly payment recording function, which can either be automated or done manually. You can also keep track of your progress. Choose if you want to do monthly, weekly or bi-weekly payments.If you make any extra payments, Debt Manager allows you to enter each one against the appropriate debt monthly, yearly or as a one-off payment. Unlike other apps, you can also enter transactions against each debt that will increase the debt balance (such as an additional charge on your credit card).The app also allows you to run various scenarios with a change in the interest rate or an increase in the monthly payments. Use the built-in calculators for monthly payments, extra payments, payoff date simulations and refinance benefits.You can run interactive reports that let you compare debts side by side and feature an easy visualization of the debt breakdown. All your debt details can be exported via email, including an overall summary or individual debts, as well as full amortization schedules and charts. The app offers passcode protection to keep your data safe. You can also set payment due notification reminders so you don’t miss any dates.Cost: 99 cents.Compatible with: iPhone, iPad and iPod touch. 6. Debt StrategyOne of the useful things that Debt Strategy offers is the ability to analyze how your payment strategy or different payment amounts help you pay off your debts sooner. The app supports different payoff strategies, including minimum payments only, lowest balances first or highest interest rate first.The app will walk you through how to focus on paying off one debt at a time while making just the minimum payments on the rest. As you pay off each debt, the amount of that payment will get rolled into the next debt on the list. This can shave off months from your repayment schedule.You can use the app to enter all of your debts and track them. It helps you identify the best payoff strategy and perform simulations with different amounts of additional payments. You can also see a graphical representation of how the debts will be paid off.Additional features include pie and bar charts for debt broken down by category or remaining balance, as well as a monthly payment schedule for each debt. You also have the ability to enter payments during the life of the loan and track remaining balances.Finally, you can set payment reminders, create a password for protection and email yourself a report.Cost: 99 cents.Compatible with: iPhone, iPad, and iPod touch. 7. iQuick Debt PayoffiQuick Debt Payoff is a financial calculator and planner that helps you put together a payment schedule for multiple loans. There are two ways to organize your debts — lowest balance first (debt snowball — that’s the default) or highest interest first.The app lets you see which debt is costing you the most in interest payments each month. It also lets you estimate your savings if you make additional payments each month. This can be done for multiple debts at the same time.Additional features include a full amortization schedule as well as loan snapshots, including total balance, interest rate, total interest paid, monthly payment, etc. The calculations can be done in different currencies, too.Your complete payment schedules can be saved on an external or internal SD memory card. Another option is to export them using CVS format and your email address for authentication.Cost: 99 cents.Compatible with: Android phones and tablets.