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Top 7 Debt Reduction Apps That Actually Work

It can be confusing to determine the best way to get rid of debt. But with debt reduction apps, you can reduce the difficulties of making your debt plan. The best ones will even let you enter in the important parts of multiple debts while calculating your monthly payments and determining how much interest you owe.

Some apps also allow you to pick from several methods of paying off your loans, depending on your goals and needs. For instance, with the debt snowball method, you can prioritize the debts that have low interest rates. You can apply a large amount to one of them and make only minimum payments on other debts. With different repayment methods, it can be hard to calculate the right payment. However, these apps can do that work for you and make an easy-to-follow plan, so you do not have to submit a bankruptcy petition.


1. Quicken App

Most software focuses only on helping you make a payoff plan, but this one can help you set aside some money in your budget to pay off your debt. It also helps you create a budget. You can prioritize the debts with the highest interest rates.

2. ZilchWorks

This app can help you get out of debt quickly. It creates a plan that helps you meet your goals in 18 to 24 months. You will enter the interest rate, creditor and monthly payment of each loan. Then, it will make a plan to help you pay them off quickly.

You can use this app to compare payoff plan lengths and look at the amount of money you might save by paying your debt off sooner. You might save a lot of money in interest by paying it off faster.

3. Vertex42 Debt Reduction Calculators

These calculators work with your Excel app and let you create a debt reduction plan. You can choose from several different calculators. With the spreadsheet, you can use a snowball technique, and other calculators allow you to improve your credit as you pay off loans. You can also use the calculators to determine how much you need to pay each month to meet your goals.

4. Debt Payoff Planner (both iOS and Android)

With this app, you can make a plan to pay off your debt. This will include the amount that you need to pay back each month so that you meet your goals. You can look at summaries of the whole picture, as well as the amount that you owe and the date you will be free of debt.

You can choose from payoff methods, such as the debt avalanche, a custom plan, and the debt snowball. The app offers graphics so you can view your progress.

5. Debt Free (iOS)

This is a top-selling app in Appleā€™s App Store, and it lets you make a customized plan. You can base it on the snowball debt repayment method, and there are other options, as well. It makes a detailed plan, so you know how much to pay each month. You will see the interest amount for every loan, and you can use the calculators to decide how much to put toward each one.

6. Debt Tracker (Android)

This app lets you track the debt owed to you and how much you owe other people. You can also think about your savings goals when using it. You can enter the details of each loan to create a repayment plan. You can also track the penalties and payments.

This is a good app in terms of privacy since it has a PIN that protects your information. You are the only one who can get to the information. You can use this app without having to add your bank details or even make an account. With the Pro version, you can see your information on the cloud.

7. Debt Payoff Assistant (iOS)

This app lets you put in several loans at once, along with the monthly payment amounts, balances and interest rates. You can easily determine how much is left for you to pay, and it estimates the payoff dates. It will break down how much you need to pay each month to meet your goal date. The amount you need to pay might change every month to keep you on track.

Using a debt reduction app is a great way to help you stay on track with your repayment plan. With more advanced apps, you can create a customized plan to meet your needs. Before you know it, you will have those loans paid off.

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