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    The 5 Best Debt Reduction Software Programs of 2020

    Debt Reduction Software

    Debt is one of the most commonly reported causes of stress amongst Americans, who hold an average of $9,151 in credit card debt per person. This fact illustrates how heavily Americans lean on their credit cards to support their standard of living. 

    Eventually, one’s debt load becomes so burdensome they decide it is time to do something about it. Most individuals go through the standard methods of debt reduction such as the snowball method, the avalanche method, or even debt consolidation. While all these options are viable debt reduction strategies, many borrowers have trouble sticking with a debt reduction plan. This is where debt reduction software programs come in. 

    Here we will cover the top 5 software programs for 2020, how they work, and who they would be good for.


    Most people will be familiar with Quicken for their tax return and accounting software, but they also provide one of the best debt reduction software programs around. The basic program starts at $34.99 per year and allows subscribers to track all their bills and spending as well as create a debt reduction plan following a variety of strategies and methods. It also provides customers with analytical insights into their spending habits, so users can see exactly where their money is going.


    • Creates efficient Debt Reduction plans
    • Tracks where money is being spent
    • One yearly payment
    • 30-day money-back guarantee


    • No syncing with bank account
    • All data must be entered manually
    • No mobile support

    Qube Money

    Unlike other software services, Qube provides a more involved experience for users by employing the envelope budgeting method. This forces users to create spending categories such as food, entertainment, and transportation, with corresponding monthly limits. The user is then supplied with a Qube debit card, which is tied to their bank account to effectively help enforce these limits. This can be very helpful for those paying down a consolidation loan or credit card debt. Qube offers a free version available as well as a paid version that charges couples $216 and families $324 for a lifetime membership.


    • Finds ‘extra’ money that can be applied to paying down debt.
    • Mobile app available
    • Provides debit card linked with bank account


    • The unpaid version offers few features
    • A fairly new program, therefore there may be some bugs


    In an effort to assist users with paying down debt quicker, Qoins offers a debt reduction feature that helps users manage credit card spending and finds extra money by rounding up purchases and putting the difference towards paying down debts. For example, if a cup of coffee costs $2.79, it will round the purchase up to $3.00 and put to extra $0.21 towards a debt payment. This feature can be useful for individuals who have consolidated their debt and are in the process of paying off a consolidation loan.

    Qoins does not have a subscription based payment plan, instead charging $1.99 for each extra loan payment it makes to lenders on the user's behalf. 


    • Makes minor payments towards debt by rounding up minor purchases
    • Debt repayment happens automatically
    • Averages 4.8/5 on the Apple App store


    • Charges $1.99 per bill payment
    • Does help user in financial planning or creating a budget

    Unbury Me is an entirely free piece of software that allows users to create and manage a debt reduction plan all on their own. Over the years, it has become a go-to free tool for individuals who have recently undergone debt consolidation and want help sticking to payments.

    The software also includes options to help users pay down their debt using either the debt snowball or debt avalanche methods, two very common debt reduction strategies.

    As a SaaS solution, is only accessible from web browsers and does not feature a desktop or mobile application. Users access their account by entering their login credentials at the website. Unlike other debt reduction software programs, Unbury does not sync to one’s bank account.


    • Software is entirely free
    • Allows users to track their progress with either the debt snowball or debt avalanche methods
    • Does not require users to download any software onto their machine or device


    • Software is basic and has many limitations
    • All data has to be entered manually
    • No bank account syncing
    • No mobile application is another free tool that one can download on their mobile phone or desktop. Just like, it gives users the option to draw up a  plan based on the debt snowball or debt avalanche method. Developed in 2012, it is one of the world's most popular free software, with over 112,000 users currently active.


    • Helpful for planning debt payments after debt consolidation
    • Entirely free
    • Both desktop and mobile options


    • Limited in functionality
    • No bank account syncing
    • All data must be manually entered


    Deciding upon a debt reduction plan is one thing, but sticking to it is an entirely different matter. Some people have trouble staying dedicated to whatever strategy they have chosen and need help. With the aid and coaching of a debt reduction software solution, help achieving repayment goals is just a tap or click away.