I’ve recently seen several online debt tools created to help people create do-it-yourself debt payment plans to get out of debt. For the longest time, debt services have consisted of credit counselors and debt settlement companies. But many people find they can get out of debt by putting forth hard work and effort themselves. They just need help getting their debts organized, figuring out the right strategy and staying consistent with a plan. And that’s what the below online debt tools do. There is typically a cost, but in my mind, it’s worth it if you’re saving interest by using a tool to get out of debt sooner.
Ready for Zero - Ready for Zero provides an online tool to help people pay off their debt. You can link your credit card accounts, student loans, auto loans, mortgages and more. Once your accounts are linked, you can create a debt payment plan. Ready for Zero shows you the optimal amount to pay, how long it will take you to pay off your debt and the interest you’ll pay. You can use Ready for Zero Plus to make payments directly from the online tool. And Ready for Zero is also available on the iPhone! Cost: Free (the Plus product is $4.99 per month).
Savvy Money - Savvy Money offers a personalized plan for paying of your debt. The first step to getting out of debt is getting organized. SavvyMoney lists all your debts, account balances and interest rates. Set up a payment plan with a fixed amount and choose a debt strategy such as the snowball method. SavvyMoney also offers a Smart Pay Plan that shows you the best way to make your payments across your debts. You can also see how much principal has been paid and how much interest you’ll save. Finally SavvyMoney offers Accelerator actions to help you find ways to pay off your debt faster. Read the Savvy Money review to learn more. Cost: $14.95 per month.
SpringCoin - The Spring Coin software provides unique automated negotiations with creditors to get lower rates and better terms, a debt payment plan, education and advice to pay off your debt. There is a dashboard that offers spending tips and your upcoming financial dates. You can customize your payment plan based on the payment you can afford each month. Spring Coin also provides the ability to track your bills and spending. Finally, you can see all your creditors and balance in one place. Read the Spring Coin review to learn more. Cost: $8 per month (Basic), $35 per month (Premium)
DebtWise by Equifax - DebtWise is software provided by Equifax and it automatically updates based on your Equifax credit report. You can also add debts that aren’t included in your report. Debt Wise also provides a way to track your progress when paying off debt. In addition to the debt program you receive 4 Equifax credit reports and four scores per year. You can also simulate how certain actions may impact your score. Learn more. Cost: $14.95 per month.