Introducing DebtPlan: Your Path to Debt Freedom

The weight of debt isn’t just a number on a screen - it’s sleepless nights wondering how to make minimum payments, the stress of watching interest compound, and the constant struggle to build a future while paying for the past. If you’re in this position, know that you’re not alone.

Americans are carrying over $18 trillion in household debt, with credit card debt alone surpassing $1.21 trillion - and more people are struggling to keep up with payments. Credit card delinquency rates have climbed to 7.18%, meaning more than 7 in every 100 credit card holders are falling seriously behind on payments.

But Americans aren’t the only ones facing debt. In 2022, four countries had a household debt ratio in excess of 100 percent of GDP: Switzerland (128%), Australia (112%), South Korea (105%) and Canada (102%).

I struggled with debt early in life. As a young adult it started with a car payment, which lead to a cycle of debt that lasted more than ten years. I lived paycheck to paycheck and never had enough to save. Everything changed when I discovered the power of strategic debt repayment - paying more than the minimum in a carefully planned way. That’s why I created DebtPlan, to show others the clarity and focus that comes with a simple plan.

Let’s look at Sarah’s situation - she has three credit cards totaling $12,000 and an auto loan of $15,000. Every month, she has $800 available for debt payments beyond her minimum payments. But which debt should get the extra money? DebtPlan analyzes her interest rates, balances, and monthly minimums to create a strategic payment plan. For Sarah, the app recommends the avalanche method: targeting her 24.99% APR credit card first while maintaining minimums on other debts. As she makes progress, the app’s visual tracking keeps her motivated by showing her total debt steadily decreasing and her debt-free date getting closer. What once seemed like an overwhelming mountain of debt becomes a clear, conquerable challenge with a defined endpoint.

That’s my goal with this project, to help you break free from debt’s chains, one payment at a time. DebtPlan is available for iOS and Android devices.