Debt Payoff Assistant

Name: Debt Payoff Assistant
Rating: 3.64228 (123 reviews)

Finance

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Debt Payoff Assistant

Finance

3.6

123 ratings

Age Rating

Seller

Steve Tran

View in App Store

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User Reviews for Debt Payoff Assistant

Awesome app

So this is an amazing app! Great way to manage debt and to help pay it off. As of right now though it has pretty much Ed ranked seeing as it will not work with iOS 13 and newer. When attempted to check off a payment for a bill or something it just says that you can only check off up to three months. Mind you it could be last month you or the current month or a future month it will still pop up saying you can only check off up to three months. As long as this is happening the app is useless. Hope it gets fixed.

806Tech, Oct 14, 2019

Lump sum payment option?

Is there a way we can add in an occasional lump sum payment, such as when I receive a tax return or work bonus? I would like to know how much paying an extra $1,000 in April this year will affect the pay off date of a mortgage for instance. Then if I get a work bonus in June this year, I would like to add in that additional lump sum payment of let’s say $500, and see how that affects the pay off date as well.

addisont48, Jan 13, 2018

Works great but can improve a lot

I love plugging debt in and seeing my best course of action. It’s great if you only want to snowball bills or have a set payment for all your bills. However it could use a few minor tweaks that would improve it a lot.(1) There is not a way to just pay extra principle towards debt without snowballing the minimum payments from paid off debt. You can do it one bill at a time but that is only functional for the top priority bill. Choosing which bills you want to snowball into or from rather all or none would make a huge difference. (2) I also wish the balances of debts kept up with time. Every time Inwant to add a debt or rethink my plan I have to change all the balances.It still receives 4*s for ease of use, simplicity, and the benefits it does offer. I bought the ad-free version as a tip to the creator. I do not notice many ads with the free version. I would have donated more if allowed.

brandon From state farm, Apr 24, 2020

Love it

This app is great. It does everything i need to track my bills. i would love to be able to add and subtract extra money to see how it affects my snowball. I would also be happier if new bills didn’t use the date i started using the app with a pay off date that’s already passed. It should show current date and then guess of when it should be paid off a Little later. I may not reach my goal date but at least i would have a shot

Cmann7, Sep 25, 2018

Exactly what I was looking for.

I was attempting to create my own “snowball” method by applying the payment from a previously paid off debt onto the next one and then carrying that larger payment forward until all of my debts are paid off. I wanted to see the payments spread out in a chart so I can actually see what is happening with my payments. I like that I can choose a custom order of applying the snowball or pay in order of highest balance or interest first. I also like that I can add an extra payment and make the snowball bigger! It is a very simple app but it gets the job done. It gave me a closer end date to what seems like endless student loans!

Debtfreeis4me, Oct 17, 2019

Pretty nice - but couple of suggestions

I like what has been done some far but would suggest the following adds in future versions ... 1. Most importantly - have to be able to enter what a person can afford on a month basis. I am on fixed income and the apps shows paying just one debt over my monthly income. You have be able to cap what your spending on the payoffs overall per month 2. It would be nice see a report for each month what the payouts are without having to go through each debt to check .. tedious and time consuming right now. Other than that .. i really like the app .. simple and easy to setup

ginoLogic, Feb 02, 2021

Good, could be Great!

I like that it is pretty simple. In addition to other feedback, one thing I wish I could do is take away the snowball for specific debt. For example my credit card, for which I have recurring payments that will continue after the balance is paid off and thus can’t be snowballed to the rest of the debt. I thought of something else. A way to edit the payment amount. Good stuff though! I definitely find it useful :)

HCnthdegree, Nov 10, 2017

Works well, but one issue for me

I really do love this app and feel that for the price of free, I can’t complain much. It does help me to see how I can pay off debt faster and I do like to see the breakdown of what my balances will be with the snowball method. The only issue I have is that it doesn’t keep up with time. I started using this back in March and the balances don’t keep up even though I mark how much my payments are and interest. So even though we are a few months down the road my balances still look the same. So I have to readjust the payments and basically start over each month. Not a big inconvenience but still could be improved.

KaylaMeyer87, May 17, 2020

Debt Payoff Assistance

It has taken me 2 months to figure out that you have to touch the date for it to record that payment. It does lay out the debt pay off so you can see the progress until payoff. I do like that this simple app has no ads. I do suggest that pictures be added to show what and how you can use certain function. This is a great simple no fuss app!

Robinett, Feb 12, 2021

Free and fantastic

This app does exactly what it claims. It is extremely user friendly and allows the user to do custom things, such as added snowball payments and one time additional principle payments. The only drawback: you have to set a date that is for all loans at once. For example, if you add more bills/debt at a later date, the app will calculate it based on the date you entered your original data. Still 5 stars!

Son of the South, Sep 05, 2019

Description

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