Pay Off Debt

Pay Off Debt is an application for the iPhone and Touch. The aim is to help you create and use a debt snowball to focus your debt reduction efforts. A debt snowball is a way to systematically pay down debts. Using this method you pay minimum payments to all debts except one (usually the debt with the lowest balance.) You then pay the minimum payment plus as much additional money as possible to the selected debt. This process is repeated until all of the debts are paid off. Get Pay Off Debt now!

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Tutorials

Pay Off Debt Features

Order debts in the order of your choice: from lowest balance to highest balance, highest interest rate to lowest interest rate, or in a custom order selected by you.

You can add, edit and remove all types of debts. Graphics for credit card, car loan, mortgage/HELOC, student loan, and generic debt help to visually differentiate the types of debts.

Password protect the app if desired, and change the password to something else or turn off the password at a later date if it has been set.

See progress bars on each debt to help motivate and encourage you, plus view a progress bar of your overall progress.

See estimated time left to pay off each individual debt.

View the "planned debt-free date" on the Debts screen as an estimate of when all of the debts listed will be repaid. This date will change based on what is input in the Additional Amount field in Configure Snowball.

Ability to turn off the snowball if you'd like to see how much time it would take to pay off each debt by just making minimum payments.

Email the snowball information (list of debts, starting debt amount, current balance, minimum payment amount, due date, and progress made) to up to four different email addresses.

The Debts screen allows you to record the payments you have made by pressing Record Payment for individual debts or by pressing Record All Payments to record all of the payments at once.

The Configure Snowball screen allows you to set the additional amount that you have available to put toward the first debt in your snowball.

Pressing the Record Payment button on the first debt in your snowball will also automatically record the additional amount you entered on the Configure Snowball screen.

Current balance is automatically estimated based on information input by you. (However, please note that this is ONLY an estimate. To keep exact records, consult your statements and enter the actual current balance manually on the Edit Debts screen.)

Allows you to select English, French or Spanish and four different currency types (Dollars, Euros, Pounds and Yen.) You can also enter your own custom currency.

Get Pay Off Debt in the iTunes store

Privacy Policy :: Main Page :: Setting Up Pay Off Debt
Recording Payments :: Editing an Existing Debt :: Emailing Your Debt Snowball