Free iPhone App Offers Hope to Consumers Climbing Out of Debt
Tempe, AZ (PRWEB) December 28, 2010
Newly-released Pay Off Debt Lite – a free version of one of the most popular debt reduction apps in the App Store – offers hope to consumers climbing their way out of debt.
Pay Off Debt Lite has been designed to get consumers started with organizing and reducing their debt. With features that provide motivation as they watch their balances go down, Pay Off Debt Lite helps consumers successfully use a debt snowball plan.
A debt snowball plan involves focusing intensely on paying off a single debt (usually the debt with the lowest balance) while making minimum payments to the other debts.
Once that first debt is gone, the monthly amount that previously went toward that debt is added to the minimum payment of the next debt, and so on, until all of the debts are repaid. The payment amounts “snowball”, becoming progressively larger as each debt is repaid.
It’s especially effective because the debt snowball method usually results in quick successes early on, so consumers remain encouraged and continue to work their way toward debt freedom.
Pay Off Debt Lite offers hope by making the successes and progress both visible and portable.
Pay Off Debt Lite’s features include the ability to:
Prioritize debts by organizing the debt snowball in the order of choice
View progress bars on each debt for motivation and encouragement
See starting and current balances
View the planned debt-free date
Share the debt snowball with others via 4 email
Availability:
Pay Off Debt Lite is currently available in the United States, Canada, the UK, and Australia through the iTunes App Store in the Finance category, and is compatible with the iPhone 3GS and newer devices. For additional information on Pay Off Debt Lite or the more fully-featured full version, visit the Pay Off Debt web site at http://www.payoffdebtapp.com/apple/.
Copyright © 2010 Parallel Focus LLC. All Rights Reserved.
# # #
Attachments
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.