Updated: 7.8.16 Software

ReadyForZero’s App Helps Millions of Consumers Manage & Eliminate Debt Right From Their Phones

By: Lindsey Carman

The Crunch: Debt has become a big issue for consumers. Today, about 144 million Americans are saddled with over $11 trillion in personal debt, and the numbers grow every year. ReadyForZero, a San Franciso-based company that provides online and personal finance tools for everyday use, helps real people pay off real debt. The app’s features help users visualize their progress, track their credit score, and set reminders when payments are due. Since 2011, ReadyForZero has helped users pay off $375 million worth of debt — all through a free, simple app. 

In a few months, I’ll attend graduate school to earn a master’s degree in English literature. I’m excited to dive into long nights of reading and writing, but I’m worried about paying for my degree. I was fortunate to cross the stage as a debt-free undergraduate, so I’ve never had to manage debt before in my life. The impending burden of having student loan debt almost takes away the excitement of going back to school and getting my degree.

Student debt, along with credit card debt and mortgages, is a growing issue that adults like me have to worry about. Currently, about 144 Americans are managing over $11 trillion of debt; it’s a startling statistic that casts a shadow on the future for me and millions of other Americans. Finding the best, or even easiest, way to pay off debt is another task in itself. So how can you track and pay back on time thousands of dollars you owe?

ReadyForZero, a San Francisco-based startup that provides free online and personal financial management tools, wanted to solve this issue for millions of Americans. The Founders’ epiphany was to create a simple app that helps users track and manage debt until they pay back every dollar they owe. And it’s worked — more than $375 million in debt has been paid off through ReadyForZero since 2011. As student loans and other debt increases, ReadyForZero will fight for freedom from debt.

Two Guys Solve the Debt Problem with a Simple App

In the late 2000’s, Rod Ebrahimi’s girlfriend was struggling to pay her student loans. He was inspired, along with co-founder Ignacio Thayer, to create an app that helped users pay off debt little by little. ReadyForZero was launched in 2011 and changed the outlook of America’s debt problem.

Rod Ebrahimi is the Co-Founder and CEO of ReadyForZero.

“ReadyForZero tries to automate how you tackle your debts and build wealth,” said Rod Ebrahimi, the Co-Founder and CEO of ReadyForZero.

After 6 weeks of its launch, users had registered about $30 million in credit card debt on the app. Just two years later, ReadyForZero had helped people pay off over $25 million. With the launch of ReadyForZero PLUS in 2012, a paid service that includes all the freemium model’s features and extras, users were able to make direct payments to credit cards and loans. 

Users’ success has inspired others to use the app and manage their own debt. By putting simple financial tools into the hands of consumers, ReadyForZero helps them take control of debt and get their balance down to “zero.”

Track & Pay Down Debt While Protecting Your Credit

Getting started on the ReadyForZero app is pretty easy. First, you can either upload your bank information and credentials manually or sync your details with the program. Once that step is complete, you can select a monthly payment amount and create a customized payment plan. On the last step, you’ll receive reminders and notifications to stay on track. Here’s a quick look at some of the features:

  • Visualize progress
  • Track your credit score
  • Get reminders and notifications
  • Receive mobile support

You can manage all of your debt in one user-friendly location with the ReadyForZero app.

Let’s say you need to pay off $2,000 in credit card debt. You can download the free version of ReadyForZero and create an account. Next, you’ll be able to link the credit card to your account and select a personalized payoff plan (e.g., pay it all off in 6 months), then you’re ready to go. As you make regular payments, you’ll be able to visualize how much you’ve paid off compared to how much you have left. Within no time, your credit card debt will be gone.

Another awesome feature is checking your credit score for free through the ReadyForZero app. Protecting your credit is important, especially when you’re tackling a mountain of debt. ReadyForZero helps you keep an eye on how your credit score is faring so you don’t run into the trouble of having bad credit.

Users’ Success Stories Show ReadyForZero’s Real Results

ReadyForZero helps users with much more than student and credit card debt. You can pay off your mortgage, business operations, and other accumulated debt right from the ReadyForZero app. Having a handy app that tracks real-time stats can virtually help any type of debt.

“It’s a really financially sophisticated friend pulling you through the process,” Rod said.

Thousands of people are debt-free because of ReadyForZero; are you next?

There are thousands of inspirational stories of people paying off their debt in just a few years. An app user named Valerie had accumulated $40,000 of debt as she battled cancer and depression. After her remission, she was determined to become debt-free; the ReadyForZero app was the solution.

“I’ve had debt for 15-20 years and finally got serious about it a year and a half ago. Today, I’m 100% debt free thanks to ReadyForZero.” – Valerie, a ReadyForZero user

You can read about how Nick from Rochester paid off $21,393, or how Jennifer became debt-free after accumulating $37,536, but what’s most important is your own debt-free journey. You’re just a few steps away from making the big leap into taking control of your debt and finding financial freedom.

Here’s to a Future of Less Debt with the ReadyForZero App

I don’t have to walk around with the invisible weight of debt on my shoulders when I can use the ReadyForZero app to manage my student loans. Keeping track of every expense — even down to the nitty-gritty costs of textbooks and miscellaneous things for school— will be easy to manage with the visual charts on the app. I think it’s safe to say that I can breathe a sigh of relief that something so simple and free is ready to help me battle my future financial woes.

“Our vision is to build tools that help you automatically pay down what you owe and prepare you to save as well,” Rod said.

As for future plans, ReadyForZero will help more people pay off more debt and make the app even faster and easier for users. This planning tool really does it all, and that’s why you should use it, too. Start eliminating debt and live a more financially stable life today with the ReadyForZero app.

About The Author

Highlighting the movers and shakers in the retail space, Lindsey Carman writes in-depth features that showcase the passionate team behind successful brands. You can see her cover the next marketing trend or retail disruptor in the IndustryCrunch blog.

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