If there is debt, there is always a tension at the back of the mind. Nobody wants to be under debts, financial obligations or anything like this. If one is in any such situation, it is always the best idea to get out of it as soon as possible. Although in the first place, getting under debts is not a very good idea. Keeping greed under control is highly necessary but even if one has some debts, it is not compulsory to worry about it. Technology is readily available at disposal and using the same for managing such issues can prove highly beneficial.

This article discusses about the top 4 applications that are available in android store for assisting users with debt management and helps bring them down.

iQuick Debt Payoff

Debts are nothing to get panicked about instead they can be easily dealt with. But the interest rates are something that gets on the nerves after sometime.   They charge extra and are very hard to pay. iQuick Debt Payoff is an application that performs calculations to bring own the total due interest that the user would be paying on credit cards, outstanding loans and other debts by taking care of payment schedules. It uses an accelerated method of payment which pays off the loans with higher interest rates first. Alternatively the user also gets the option of paying the debt with lower interest rate or balance first.

Debt Tracker

Some people may find it interesting to track and manage debts while others would be least bothered about it. But tracking of debts is important if one wants to manage his or her finances well. The Debt tracker is an application that does exactly what its name suggest. It is one of the best debt managers available for android and is highly efficient in the same. It is very easy to use and only requires the users to enter the debts such as money owed to friends, loans etc and it would do the rest of tracking the payments, maintaining bar graphs etc. It is available in free as well as paid versions depending on the features that are allowed for the users.

Debt Planner Pro

Planning for anything can work wonders and debt is no different. If it gets proper attention and planning, getting rid of it is not a very difficult task. The Debt planner is an amazing application for all the android users which makes use of a strategy named “lowest balance first” for paying off debts pertaining to loans, credits cards etc. Even this application is available in free as well as paid versions provided certain features in the free versions would not function.

Debt Payoff Planner

This one is an intelligent application that involves use of debt snowball method and helps users with effective debt management strategies. One just has to feed in the current debt details and this application is smart enough to suggest which debts should one start paying off first. This application is a lot more than what can be described in words.  Since its available for free as well as paid, one may download the lite version first to understand how this works and then later on go for the paid full version.

In the end, debts are not the best things as far as financial condition is concerned. It is always better to stay tension free than under debs. Using these applications can certainly help in some way.

Shruti Pathak is young Blogger & Writer. She is working for http://www.guestpostingindia.com/ SEO Company & Blogger as content writer.