Debt Payoff Planner & Tracker

Easily get a plan and stick to it - OxbowSoft LLC

Contains adsIn-app purchases

About this app

The Debt Payoff Planner 📱 app is the simplest way to stop feeling overwhelmed and start having a specific, step-by-step plan for paying off your loans 🎉. Today is the day to make a plan with a loan calculator and begin paying down debt.

With Debt Payoff Planner, calculating your debt-free date and getting a customized debt repayment schedule is as easy as entering basic information about your loans: current balance of the loan, annual percentage rate (APR), and minimum payment amount.

Easy steps to becoming debt free with Debt Payoff Planner:

Enter your loans and debts
Enter your additional monthly payment budget to pay down faster
Choose a debt payoff strategy
☃️ Dave Ramsey's Debt Snowball (lowest balance first)
🏔️ Debt Avalanche (highest rate first)
❄️ Debt Snowflake (one-time extra payment toward loans)
♾️ Custom debt free payoff plan

Debt Payoff Planner and Calculator determines the optimum payment plan and how long it will take until you will be debt free. You tell the app how much you want to budget toward paying off your debt and we'll tell you how. We recommend the Debt Snowball strategy because we believe that paying off individual accounts faster will help you stay focused on your financial goal of debt elimination. A payoff plan is only useful if you stick with it!

Your ability and willingness to pay more than the minimum payments is how you will become debt free in less time than you imagined. Budgeting your income will help you to get a regular monthly amount to pay down the debt faster. The payoff chart will show two payoff scenarios: only paying the minimum amounts, and the repayment schedule when you pay more the the minimum ever month.

Additionally, there is an option to create an account for saving debt payoff and payment information. This account can be accessed across multiple devices, from multiple app stores. Creating an account is entirely optional, but it does enable you to have a secure backup and your information is immediately available if you start using a new device. Getting out of debt is hard, so we try to allow you to take baby steps toward this goal.

We believe that becoming debt free requires an easy starting point and making sure every dollar is leveraged perfectly. The loan calculator has minimal inputs in order to make your money management easy to follow.

The Debt Payoff Planner and Calculator is also used for tracking payments and updating the time-frame for becoming debt-free. Inputting payment information is as simple as typing in the amount and the date the payment was made. The goal of payment tracking is to see your progress over time and affirm that you are staying focused on your financial goals.

In addition to being a debt tracker and loan calculator, the apps points out some possible next steps with articles focused on how to pay off student loans, auto loans, and credit cards faster. Also, there are some tips on credit card balance transfers as well as strategies for debt consolidation.

Eight different loan categories are available to help plan track and visualize your unique situation:
💳 Credit Cards like Capital One, Citicard, Chase, etc.
🎓 Student Loans like Navient, Sallie Mae, Great Lakes, etc.
🚗 Auto / Car Loans
🏥 Medical Loans
🏠 Mortgages like Rocket Mortgage, SoFi, etc.
👥 Personal Loans to friends and family or other individuals
🏛️ Taxes like IRS or local municipalities
💸 Other category could be anything from a paycheck loan to a hard money loan

In addition to the Debt Snowball calculator and the Debt Avalanche method, many users like to do a custom sorting of their debts. This customization is available for users that want to be their own debt manager.

Debt Payoff Planner supports Debt Snowflake payment as well. A Debt Snowflake is a one-time debt payment from things like a bonus at work, a tax refund, an extra payday, etc. This additional capability allows you to have tighter control over every dollar you are budgeting.

Ratings and reviews

This app is simple, but motivating in keeping me on track to pay off all my non-student loan debt. Wish it had some more visuals or sounds when you make your monthly payments or pay extra on a debt, but nevertheless its with the annual subscription. If you can, just do the Avalanche (highest interest to lowest) option. Even if you only have $20 extra to add, you will be amazed at how much money you are going to save in the long run, while also lowering your overall weighted interest.

I'm liking the app. The debt tracker is not very useful to me, but I was able to find where I could just revise the balances in the debt tab. This simple option is not very conspicuously presented when someone is just getting familiar with the app. You should make this particular option more obvious for those who may like this style of debt management.

There's just something so friendly and helpful about using this app. You'll get top notch results even without spending the extra $2.00 for the pro version, but who doesn't like to color code the different accounts as and a few other WOW factors. It's helped me schedule my debt free month. Update.. I had to use the option to clear my prior data and progress & start over due to difficult circumstances so I'm glad that's available and hope to not need it moving forward.

What's new

Stability improvements to help you on your debt-free journey!