Consumers who are grappling with mounting piles of bills can find help through debt settlement software. There is a variety of software available online for consumers to them determine the amount of their indebtedness and to develop strategies to pay down their debt.
Debt Settlement Software for Consumers
Numerous debt management companies' websites have free calculators for consumers, supplied with the intention to get you hooked on the process of using their calculator and to get you to sign up as a customer for the company's credit counseling services. Some of these online applications are really forms to determine whether you are indebted enough to benefit from the debt management company's services. The data these forms request from you gives the credit counselors all the data they need to make an effective sales pitch to you for their debt management services.
Many of the companies hosting these sites charge monthly fees and the money you'd be paying them could instead be going toward paying down your debt faster and potentially improving your credit rating. Sometimes the money you pay in fees to the debt management company is a good investment, but it might not be. So keep that in mind before you try out any of the debt settlement software available online.
Online Indebtedness Calculators
Here are some of the websites that have various forms of debt settlement software, ranging from data request forms to calculators and planning tools:
- Bills.com: This online debt settlement calculator offers to help with several objectives related to indebtedness. The calculator includes a field where you can select whether your goal is to resolve an outstanding debt with the IRS, avoid bankruptcy, save money or lower monthly payments.
- ClearDebtSolution.com: The calculator software on this site includes the option to view an interactive graph of your indebtedness and a timeline for repayment of balances.
- DebtReliefCenter.org: This site has an interactive questionnaire that ultimately leads you to a personalized offer of a debt management program, depending on how you answer the questions.
- DebtRite.com: This website uses a form to gather data that a debt management company will use to get you started on a program that would reduce your indebtedness.
- FreedomPlus.com: This site claims that it has helped clients reduce their debt obligations by up to 50 percent and offers you a form to fill out to obtain a quote on a possible debt management arrangement.
Personal Financial Management Software
An alternative to working with debt settlement services is using personal financial management software like Intuit's Quicken to manage indebtedness. Intuit also owns Mint.com, which is a related product that can help you stay on top of your debts and plan monthly budgets. These applications are not free, but in the long run they are much cheaper than what you would pay to a debt management company.
No matter what kind of software you ultimately use to help reduce your debt, making the effort is a step in the right direction. Hopefully the application will help you firm up your resolve to eliminate your indebtedness.