6 Apps For Managing and Escaping Debt

Debt is something that gets a hold of us and often refuses to let go as we fall deeper and deeper into it.  However, most people struggling with it probably don’t realize how much help there can be right there at their fingertips.

Below are some of the best apps we’ve found for both managing your debt and getting yourself out of it and they are designed for their convenience and ease of use. Also, best of all, we only chose free apps because, as these apps show, a few dollars can make a big difference!

1. Debt Wizard

This app is primarily for UK based consumers, but is on the list because it’s still an excellent tool for those who can use it. It calculates your debt and also helps you to understand the various options available to you including things like consolidation loans or bankruptcy. It tell you what your monthly payments would be to get out of debt utilizing the various options as well. It is available on iTunes.

2. Debt Tracker HD

This app allows you to track several different debts all at the same time. It’s easy to use and allows you to classify your debts by category. It then utilizes the snowball method to help you pay off your smallest debts first and work your way up to the biggest debts. Available on iTunes.

3. Debt HD

Though different than Debt Tracker HD, this app does provide a lot of the same benefit and features. When choosing between the two, one may like that Debt HD is a lot more oriented toward the visual person with a more colorful design and a myriad of attractive comparison tools. Available on iTunes.

4. Get Out of Debt

What is neat about this application is that it is more informational than most and focuses on informing you rather than needing you to already be informed. It gives tips for everything from general getting out of debt to dealing with bankruptcy lawyers. Available for Android.

5. Debt Tracker

Debt tracker is basically the equivalent of Debt Tracker HD but for Android. It’s not the same company, but it has very similar features for helping you track and organize your debt and then come up with an easy to follow plan for beginning to pay it all down. Available for Android

6. Debt Killer

Debt Killer is a unique app designed for those who want a more aggressive approach to dealing with their debt. This tool is designed to show you how much you can save yourself by paying more than the minimum each month toward your loans and credit cards. It also has calculators that show you the compounding interest and how it will affect you. Great for those wanting to take charge of their debt. Available for Android.

There are numerous applications out there that can help you categorize your debt, decide how to approach it, and then help you pay it off and keep from accumulating too much more. These are some of the best rated free apps that we could find that seem to be excellent for doing exactly those things. What have your experiences with them been? What other tools have you found that you really like? Let us know in the comments!

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