Credit card debt relief programs have made news recently as the FTC announced restrictions on the industry’s advertising practices.
This added consumer protection helps individuals avoid being victimized by fraudulent companies. However, a new method may allow individuals better credit monitoring without the intervention of these programs, as new apps are available for the tech-savvy on handheld smartphones.
The Credit Card Debt app, is designed to help consumers track their credit lines and other daily expenditures. Personal Debt Clock, offers individuals a more visual perspective on their finances, with a calendar countdown display for debts. This allows users to see the exact number of days, hours or years until a debt will be paid in full.
Debt Tracker Pro, is a similar service, which calculates payments for consumers in a format similar to a Microsoft Excel spreadsheet.
While consumers in deep debt may wish to take more serious measures, the new programs offer the financially troubled a more hands-on approach. All of the apps are available through Apple’s App Store.