Debt Payoff Planner

Debt Payoff Planner is a mobile and web app built by a team of recovering debtors who decided to create the tool they wished they'd had. Launched in 2015 by OxbowSoft LLC, a company based in Oregon, it has become one of the most downloaded debt management tools available, with over 1 million downloads and a 4.7-star rating from users. Unlike spreadsheet-based calculators, the app approaches debt payoff as a psychological and motivational challenge first, treating the math as the means to that end.

The app's core job is simple: take the overwhelm out of multiple debts and turn it into a concrete, actionable plan. You enter minimal information about each of your debts (the balance, the interest rate or APR, and your minimum payment), and the app generates a step-by-step payoff sequence along with your debt-free date. That date, the app's designers believe, is the single most motivating piece of information someone can have. Instead of feeling like you'll be paying forever, you see an actual month and year when the last payment posts. For many people, that shift from indefinite to finite is enough to change their behavior.

The app works entirely with manual entry. There is no bank connection, no syncing with your accounts, and no automatic payment tracking. You enter the information yourself and update it when your balance changes. This approach eliminates security concerns about connecting your bank accounts to a financial app, and it also means you stay in direct control of your data. If you prefer not to give an app access to your banking credentials, or if you use a bank or credit union that is not widely supported by connection APIs, this manual model works well.

Creating a plan is the entry point. You need three pieces of information per debt: the current balance, your annual percentage rate (APR or interest rate), and the minimum payment your lender requires. The app then shows you everything you owe at a glance. This organization alone is therapeutic for many people, because seeing all your debts in one place stops you from avoiding the numbers.

Once you have entered your debts, you choose a payoff strategy. The app supports three approaches. Debt Avalanche prioritizes the highest interest rate first, which mathematically minimizes your total interest cost. This is the most efficient path to financial freedom if you stick to it. Debt Snowball prioritizes the smallest balance first, regardless of interest rate. This approach often costs more in total interest but delivers small wins fast: you see debts disappear one by one, and that momentum keeps many people motivated. The third option is Custom, which lets you set your own payoff order if you have specific reasons to prioritize certain debts first (for example, paying back a family member at zero percent interest before tackling higher-rate cards). The free version supports all three strategies.

You can also model extra payments. The app lets you specify an amount of money you can add every month or biweekly on top of your required minimum payments. Run the numbers with an extra fifty dollars a month, or an extra hundred, and see how that changes your debt-free date. The motivational value is immediate: you can see exactly what difference that extra payment makes. For someone earning a raise or inheriting money, you can see what happens if you throw the whole amount at debt.

The app shows you the impact of different strategies side by side. You can compare avalanche versus snowball, see how many months of payoff time each costs you, and decide which one you can actually stick to. The app's philosophy is that the best strategy is the one you will follow, not the one that is theoretically optimal but which you abandon after three months.

A paid Pro plan is available starting at $2 per month. The free plan is described as "everything most people need for their journey," while Pro is positioned for "extra features and more complex situations." The specific extra features are not detailed in the captured materials, but the pricing structure offers a clear upgrade path for users who find value and want additional functionality.

The app works across multiple devices. You create an account to enable this multi-device access and secure cloud backup of your data. This means you can start a plan on your phone and open it on your computer, or vice versa. This is valuable if you like tracking on your phone in the moment when you make a payment, but also want to model scenarios on a larger screen.

The app focuses on visibility and progress celebration. Once you have a plan, the app shows you a step-by-step breakdown of how your payoff will unfold: which debt you tackle first, when it will be paid off, then the next debt, and so on. You also see a chart of your payoff over time, a countdown to your debt-free date, and progress indicators that celebrate each completed payment. The app calls these "progress celebrations," and they are designed to keep you motivated through the long journey of paying down debt.

The user base has left testimonials that emphasize the psychological aspects. Users describe finding motivation in the plan, organization in having all debts visible in one place, and determination in watching their payoff progress. One described the app as "just what I needed to help me get on track controlling my debt," and another said it helps them "organize and track my debts and my payments." The 4.7-star rating suggests these testimonials reflect a common user experience.

The team behind Debt Payoff Planner is explicit about what they are not. They do not claim to offer financial advice or professional guidance. The app includes a disclaimer that the team members are not financial professionals and the information the app provides should not be considered official advice. The site also includes a section on alternative debt management approaches like debt management plans, debt settlement, and bankruptcy, laying out the consequences of each so users can understand their full range of options.

The free plan includes debt organization, simplified planning, payoff visualization, progress celebration, access to articles about cutting expenses and boosting income, and the ability to access your account from multiple devices. For someone just starting the debt payoff journey, this is designed to be everything they need. The app explicitly acknowledges that even in months when you cannot pay extra, the plan still works and keeps you on track toward your debt-free date.

Debt Payoff Planner is particularly suited to someone with multiple debts (credit cards, car loans, student loans, medical debt, personal loans) who wants a concrete plan and a date to work toward. It is not a budgeting app that tracks every expense or integrates with your bank. It is not a credit monitoring service. It is a single-purpose tool designed to turn overwhelming multiple debts into one clear roadmap. If you are intimidated by the numbers and need a first step toward getting organized, or if you are ready to commit to a payoff plan and want maximum visibility into your progress, Debt Payoff Planner delivers exactly that.