iDebt Eliminator app for iPhone and iPad
Developer: Ray Mendoza
First release : 26 Mar 2009
App size: 1002.06 Kb
Update to 1.5 Now Released!
iDebt Eliminator is the fastest way to get out of debt. IDebt Eliminator organizes all your bills from smallest amount to largest amount. Once a debt has been paid off, the monthly payment goes to pay off the next smallest amount. This incredible method was made popular by personal financial authors and planners such as Dave Ramsey, Suzy Orman, Robert Kiyosaki, and others. Simply input all your creditors, and iDE will calculate the exact number of years, months, weeks or days that you will become debt free. iDE even offers an area to add "extra" monthly payments helping you reduce the time it will take to become debt free. All debt will be eliminated in at most 7 years, many times even sooner!
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The Debt-Snowball method is only for those on high enough incomes to be able to meet all the minimum repayment requirements on their debts. That is why interest rates are not a primary concern. You will become debt free so long as you pay extra each month on the smallest debt.