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Why is it Important to be Debt Free?
The reasons to be out of debt are multiple. It will be just very difficult to pin point just one. Your financial needs are different than your family members, close friends or even your neighbors. However, lets have a little overview of three, which are the general ones.
Lower interest equals more savings
Sounds really good no to paid interest, but let’s be realistic, no financial institution will be in the business of offering loans without a financial gain. Yes, their financial gains come in the form of interest. Simply put, more interest rate or the longer period the time you take to paid them only means more money for the financial institution. Therefore, more money to the financial institution equals less money for you to save. There you have! Just make the math and you will find the ugly true of borrowing money. If you do not know how to calculate the real cost of a loan, there are plenty financial tools available to help you do so.
Organize your bills
Most of us just keep getting bills for any reason, somethings no even realizing that we have them. I was surprise when looking at my bank account I found out that a 9 dollars subscription for an online service was still being paid. I took that subscription more than a year ago and I forgot to cancel it. Sound familiar, yes! Most of us procrastinate to do stuff, especially taking the time to cancel subscriptions that we don’t use any more. Just be aware that more creditors you have, less money you save!
Keep a good credit score
You may not realize yet, but if your credit score is low, chances are for sure, the interest rate you are paying for any debt is very high. In other words, if you neglected to maintain a good credit history, your Credit-Card companies or lenders will raise your variable interest rate to highest possible. Therefore, increasing the repayment term of the original loan.
Debt Settlement Services Providers of 2019
Technology is shifting the debt settlement paradigm and more financial applications are available to help debtors in the debt settlement process. Traditional debt settlement companies have improved their services by offering online access to the debt settlement process a well as mobile application to track expenses, build up budgets and financial calculators. There is a software company name SettleiTsoft, Inc. that had incursion in the development of an automated debt negotiation platform where debtors and creditors can interact, communicate and negotiate debt settlement agreements with out the hassle of harassing phone calls
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Get Out of Debt in 2019 with these Financial Apps
We’ve done the job for you and start testing and researching a great number of mobile applications – “Financial Apps” – which are designed to help you control your expending’s, manage your budget and help you to pay- off your debt quickly. You will find our following research very helpful in the moment of taking better decisions to get out of debt. We have organized our results from the less expensive App technology currently available in the market.
If you are crossing a difficult financial time, do not hesitate to give a try to any of these great tools!
Daily expenses are part of our financial life, but when we have a good budgeting plan it is easier to control our expenses according with our income. Budget-iT is a Free App that help you to take smart financial decisions, based on your daily cash available, by tracking your expenses and income, while discovering new ways to save, paid off your debts and even build your credit score. This easy to use mobile app is available in the iOS and Android platform. For those consumers that required more than a good budgeting plan and are crossing a financial burden, Budget-iT offers a full compatibility with the debt negotiation platform SettleiTsoft.
One of the apps that were put it to the test several times was SettleiTsoft. Our testing team just got very enthusiastic with all the great capabilities that this App has. It definitely has become the saint-grail of the financial apps. To begin with, the app offers a Free base version loaded with all the features necessary to create smart financial planning and budgets, direct communication with creditors, tracking mechanism for all debt payments, it offers a negotiation module to create settlement proposals for unpaid debts, it fully integrates with the web browser user portal, it has remainders so you don’t lose a payment, it contain step by step instructions in how to negotiate and settle unpaid debts, the graphics are outstanding and they keeping you inform all the time on the negotiation process of budgeting plan. The user has a 30 days trial to use the professional version of the app and platform, which include great enhancements of the base features and the possibility to negotiate and settle as many accounts the user wish to do. If the user decides to continue with the Free version, the system will only allow up to 2 account to negotiate.
One of the great features this app has is that both debtors and creditors can negotiate debt settlement proposals for any outstanding debt. Debtors can accept, reject or counter offer any proposal all for the convenience of their mobile device. So, let’s celebrate with another margarita in the local bar, while our creditor just accepted a 45% payment of the original debt. Wow… this is power! Great job guys with this great negotiation system.
The app is available in both iOS and Android platform, which makes it an unique and rare feature. Usually most complex financial apps come in one of the two flavors. Therefore, having it in the two apps stores makes a great advantage for all mobile users. Without a shade of a doubt, the SettleiTsoft app along with the web browser user portal will make a great impact in all the consumers crossing any kind of financial burden.
This app will automatically make a recommendation about settlement amounts for every unpaid debt account you enter. Once you’ve inputted all your financial data and activate the settlement mode, a new re-payment strategy will become handy for all users of the system. It will also display the total amount of interest paid based on the numbers. Users will even get alerts notifications when payments are due, or settlement offers are just about to expired so you never fall behind in your process to reach your financial peace of mind.
3. Debt Payoff Planner
Once you have control of your finances, it’s easy to have a plan to pay off your debts with this debt app. This app is also free, and it has some great features that allow users to visualize how long it will take for you to repay your debt. It also shows you how much are your savings by using debt-repayment techniques. This app can help you create a detailed plan for paying your debt off.
You can even track your debt payments to help you stay on top of where you’re at. This is a great app to help user’s see how much progress is being made when the new payment information is entered.
4. DebtTracker Pro
DebtTracker Pro is an app to help you stay in control of your debt accounts. The user interface is so simple to use and gives you the great detail of the status of your debt. This app is not free and for $1.99, the user has great tools to manage their debts. All the data such accounts and balances are displayed in a simple and easy to read screen. This app allows you to select the type of repayment method you prefer in the strategy to pay down your debt, or even customized a new technique tailored to your own needs. This app also provides some recommendations about the repayment amounts for your debt accounts. The user can be in control of the total amount of interest that are paid base on the numbers entered in the app.
5. Debt Payoff Assistant
This app is available in the apple store for iOS devices and it uses the Snowball Method to help users pay off their debt faster. This commonly known debt repayment method shows how the user can be debt free by choosing to pay the smallest amount of debts first and the minimum amount posible for the largest amount without falling behind in the payments. Eventually the largest debt amount will be paid in time, while saving considerable amount of money in interest. As the small debts are paid off, the extra payment portion from the debt already paid will be applied to the next debt in line. As more small debts are paid off, the extra payment amount will increase. This is why it is called the “Snowball” Method.
Debt Payoff Assistant is a free full-featured version supported by ads. It also provides an ads-free version, under the name of “Debt Payoff Pro” in the App Store.
6. iQuick Debt Payoff
iQuick Debt Payoff, is a financial calculator and planner that computes payment schedules for multiple loans utilizing roll-down accelerated payment methods. Use this powerful and user-friendly loan calculator for setting debt elimination plans to become debt free quickly and save thousands of dollars in interest payment. One of the great features of the iQuick Debt Payoff app is the loan snapshot that is provided with the amortization schedule, which includes the outstanding balance, interest paid, and monthly payments, to name a few. You can then download the table or email it to yourself. You can compare as many as 10 debt accounts at once.
It lets you to: Figure out the best possible plan to pay off credit cards debt while minimizing overall interest. Calculate plan based on “Lowest balance first” (default) or “Highest interest first” methods. Know which card is costing you the highest in interest payments.
Overall, this app help you minimize the total amount of interest paid on your debt accounts. At a price tag of $0.99, you will be receiving great tools to pay off your debts faster for Android devices.
Having a financial burden is like being in love! You can’t procrastinate, you must have a plan, and everything is completely acceptable to help your reach your goals. The new changes in technology has literally taken over most of the aspects of our daily life. Therefore, the big question is, why not use it to our advantage? After, trying all these financial apps our testing group got really enthusiastic with these debt payoff apps, especially the FREE ones. They all got convinced that most of them will be a great financial tool to help consumers get their debt balance down. So, which one of these financial apps is the best to pay-off your debt quickly? That’s a really hard question to answer. However, we recommend taking the time to visit the website or landing page for at least one of them and gather some information about the App. We, practically, guarantee that you will have better tools to help you to be debt free and to get back on the path of your healthy financial life.