Debt Payoff Assistant app for iPhone and iPad

4.6 ( 7776 ratings )

Business Finance
Developer: SVT Software

Free

Current version: 5.1, last update: 6 years ago
First release : 26 Oct 2011
App size: 4.22 Mb

Debt Payoff Assistant will help you to payoff all your debts using the popular Debt-snowball method. The debt-snowball method is the primary debt management technique taught and recommended by many financial experts. Using this approach, you would pay the minimum payments on all your debts until your first debt is payoff. Then you would use the extra payment from the paid off debt and apply it to the next debt. The amount of extra payment will grow as more debts are payoff which results in a "snowball" affect that will help you to payoff subsequent debts faster and increasing your confidence in the process.

Debt Payoff Assistant is a free full-featured version supported by ads. For an ads-free version, please search for "Debt Payoff Pro" in the App Store.

FEATURES

* Universal Binary
- Designed for iPhone, iPod Touch, and iPad devices. No need to buy separate apps for each device.

* Multiple Debts Tracking
- Track unlimited number of debts.

* Multiple Payoff Strategies
- Lowest Balance First
- Highest Balance First
- Highest Interest First
- Custom Ordering

* Debt Payment Tracking
- Tracking your debt payment is as simple as highlighting the payment from the payment schedule.

* Extra Payment Support
- Make extra principal payments to pay off your debts faster.

* Built-in Calculators
- Payoff Date Calculator
- Mortgage Calculator
- Loan Calculator

* Charts and Reports
- See your total debts, debts remaining, total interest paid, total interest saving, debt payoff date, and debt payoff time savings via charts and reports.

* Percent Paid Progress Bars
- Progress bar for each debt helps motivate you toward paying off your debts.

* Payment Due Date Notification
- Reminds you when payments are due. You can also set the time of day that you want to be notified.

* Amortization Table
- A complete payment schedule allows you to view the interest, principal, and remaining balance for each and every payment of the loan.

* Dynamic Custom Ordering of Debts
- With the custom ordering strategy, you can dynamically change the order of debts payoff from the main screen and instantly see how it affects the total debt plus interest amount and the debt payoff date.

* Payoff Date Calculator
- Use the built-in calculator to see the how the monthly payment amount will affect the payoff date and total interest paid.

* Passcode Security
- Passcode protection to keep financial information private.

* Export Capability
- Export your payment list and amortization schedule in HTML format via email.

* Large Number Keypad
- Enter numeric amounts easier and faster with a large standard keypad.

* Customization Settings and Icons
- Configurable settings and beautiful debt icons to customize the application based on your preferences.

* Debt Delete Lock
- Prevents accidental deletion of debts and debt payment tracking.

* Backup / Restore
- Backup your data to your computer for safekeeping. Then restore it to your iOS device when you need to via the iTunes file sharing interface.

* International Currency Supports
- Currency support is based on the region setting of your device.

* Clean, Intuitive User Interface

Pros and cons of Debt Payoff Assistant app for iPhone and iPad

Debt Payoff Assistant app good for

I love this! Its simple to use and gives you a lot of information as well. Quite handy. I found a few others confusing and hard on the eyes.

It could use more payment options, bi-wkly etc. other than that its great!! Im always playing with the app to find better ideas and ways to lower my debt and bring my freedom date closer!! GREAT APP!! Dont even notice any ads, Free version is amazing!!

Really useful and simple. Lots of options for ordering how youre paying down debts.

There isnt anything complicated about this app, which is what I like. My husband and I are paying off debt in order to build our dream home. This is perfect for letting me know what I need to pay each month in order to have our debt paid off by a certain date. Also allows you to add extra payments when you have extra cash, and will adjust balances. As another reviewer says, this is more for static debts. I use it for my credit cards that I have cut up, student loan debt, car, bad home.

I have been using this app for about seven months now. So far, it is has helped me greater appreciate our true debt against what we say our plan is. I am hopeful that future updates would allow for a change in the amount towards debt that you would like to pay off each month, instead of requiring you to adjust all previous payments. This would come in handy for the times when your budget may be a little extra generous or the opposite. All in all an awesome app for the price!

I love this app Its so convenient and a gentle reminder to "handle business" Great app!!!!!

Some bad moments

Please add an option for biweekly and weekly payment options. Without this it doesnt give me an accurate pay off date. Yes I do add my biweekly payments together to put a monthly payment, however, I make 26 yearly payments, not 24. Do this and I will absolutely give this ap a 5 star!

Love lots about this however does not allow bi weekly payments and expects a 100000$ loan paid off in less than a year along with other bills it overrides the years in which u plan to pay them back over and has all debt paid on less than a year including payments of more than I even make

Can only set one payment per month. No way to show biweekly or semi monthly payments. Not very accurate if you cant set accurate data. I am sure there are other issues but i stopped as soon as i saw the debt setup restrictions. Wont be using this app unless this is updated. None of my payments are monthly.

The app is useful and well designed overall, but has a major flaw of not allowing weekly/bi-weekly payments.

This app seems helpful at first but is completely useless in a few months. Input data and see how long until debts are paid off but come back to update and it never shows current date. A year later Im still looking at outdated info. I found another app that works much better.

I love this app. I already knew the snowball method but seeing the payoff dates and the time it takes to pay off entirely really gives me an added incentive. Thanks!

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