Debt Management Software

Introduction To Debt Management Software

We live in a world where everything is bought on credit and, based on the laws of supply and demand, no sooner did people realise this tools were invented to manage credits and debts. Since this is a society that relies more and more on computers, software has been changing to keep up with the times, and this includes debt management software.

Pros And Cons For Using Debt Management Software

If you don't want to manage your debt alone on pen and paper, there's two major options that you can go for: a computer software or a company that do it for you.

The more obvious con in the software corner is the fact that you need to be able to use a computer to use a computer software but then again you need to be able to use a computer for just about anything nowadays so that hardly counts anymore. The major pro in using a company is that you will be working with a human being who will more than likely be flexible and will adapt their strategy to your needs as opposed to working based on a set of rules that might or might not suit what you're looking for. On the other hand, humans are flawed and have working hours computer software is simply just there all the time and will always respect at least the basic rules of debt management, making the software just a tad more reliable.

But since the topic of this article is, indirectly, financial, why not emphasize on the most important pro of all: computer software is more cost-effective than a company. Whether you're paying a one time fee or a membership fee, it will still cost less in the long term. And since lately these tools have been adapted to merge with financial software, it would basically mean that you can manage everything about your money including your debts with just a couple of clicks. Which, let's face it, is pretty cool.

Options When Choosing Debt Management Software

  • Prime Debt Soft's Debt Killer: Free software. It uses 12 pay off strategies so that you can choose whatever you think suits you best, based on the cash-flow and the time you want to take to pay your debts. It calculates monthly expenses and estimated time until debt pay-off.
  • Debt Accelerator: 30 days free-trial. One-time fee of $19.99 (approximately L12.83). Creates a payback schedule based on your debt information can include more than one debt in the schedule, helps reduce debt payment time and saves thousands of pounds in interest.
  • Rapid Debt Reducer: Free software. Creates flexible payoff plans based on your current income fitting all debt payments in a long-term (up to ten years) or short-term strategy, based on your plans and possibilities. The software also includes money management tools.
  • DIY Debt Personal Debt Management Software: Free-trial. One-time fee of $63.32 (approximately L40.65). Creates payment plan in order to clear debts. Offers the added option of printing out letters towards creditors. Offers tips and advice in debt management.
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Debt Management Software