ReadyForZero | Review – Pay Off and Manage Your Debt


Some people just have a single loan or two that they want to get rid of.  Others have so much debt that what they really need most is an hour or two with a bankruptcy attorney.

But for everyone in the vast space in between the two extremes is an online debt management tool called ReadyForZero.

It isn’t a traditional debt management service that will actively manage your debts for you, but a debt management tool that will give you what you need to do the job yourself.

How ReadyForZero Works

When you sign up for ReadyForZero it links to your loan accounts and assembles your information – account balances, interest rates and minimum payments.  This will include not only credit cards, but also student loans, car loans, mortgages and any other loans you have.

It will display the information on all of your accounts on a single page and update it daily.  This will provide you with that all-important big picture view of your debt situation in one convenient place.

The process works like this:

  • Once you have all this information at your fingertips, you’re empowered to create a get-out-of-debt plan that works for you.
  • We show you the optimal amount to pay towards each debt every month based on your situation.
  • You’ll know exactly how long it will take you to get out of debt and how much interest you will pay.

The tool uses charts to show your progress, as well as future projections as to when you’ll be completely debt free.

Charts can be important motivational tools since they give a visual presentation of your progress.  Sometimes that’s exactly what’s needed to keep you going, especially if you’re dealing with a large amount of debt that will take a long time to payoff.

With ReadyForZero you can:

  1. Securely link your accounts (student loans, credit cards, mortgages, etc.)
  2. Craft a plan to reduce what you owe and get actionable advice
  3. We help you make payments and stay on track with our timely, encouraging reminders,
  4. Start building more wealth and reach your financial goals faster by owing less.

The site uses bank level security, and vows to never sell your information to outside sources.

They also have an iPhone app that allows you to monitor your payments and balances anytime, anywhere.

That’s especially important with debts, since they all have due dates that, when missed, can result in late charges and higher interest rates.

ReadyForZero Free Resources

The site has an extensive inventory of free resources to help you in your quest to be debt free.  In this way, ReadyForZero can function as a support community for what can be a long and sometimes complicated journey.

The site even has it’s own blog, complete with articles dealing with specific topics related to debt management.

There are also dedicated resources links – both internal and external – that deal with a wide variety of debt-related topics, including:

  • ReadyForZeroCareer Tips
  • Relationships and Money
  • Student Loan Debt
  • Credit Card Debt
  • Debt Consolidation
  • Budgeting Tips

Relationships and Money is particularly interesting since it deals with the complications that debt imposes on a relationship.  This can include dealing with your partners debt and the effect debt can have on your relationship.

ReadyForZero Fees

There’s nothing complicated here.

You start with a 30 day free trial, then it’s $4.99 per month.  This is for the ReadyForZero PLUS which allows you to automate payments and pay directly online or through mobile, both which help you avoid late fees and interest.

There is also ReadyForZero PLUS Biweekly which allows you to set up biweekly payments.  What you do is align the payments with your paychecks so you have the money to make the payment and you accelerate your principal payback which helps you save on interest.  This is also $4.99/month and there is also a $50 one-time setup fee.

This is pennies compared to the fees that formal debt management companies can charge, making it that much more difficult to ever get out of debt.

There is also the standard ReadyForZero that is free.  This doesn’t have the automated and one-time payment options.

Given the tools, resources and support that ReadyForZero provides, you’ll be well prepared to eliminate your debt for roughly the cost of a latte at Starbucks every month.  (I know, poor lattes get beat up all the time, don’t they?)

The Weak Spots

ReadyForZero is not a debt settlement company, debt management firm, or similar service.

That’s important to understand.  It’s simply an online tool that will help you to better manage your debt on your own.

It will not negotiate your debts or work out a single monthly payment deal the way management companies will.  If you need more active involvement, you will be better off working with an actual debt management firm.

Will ReadyForZero Work for You?

The service is best suited for someone who has multiple loan accounts that they have the resources to service.  It won’t be much help if you have only one or two loans, since priority wouldn’t be an issue in that case.

It probably won’t help if you don’t have sufficient income to not only comfortably service the debt, but also to make additional payments to pay down the debt more quickly.  In that situation, you’d be better off working with a debt management company that can lower your interest rates and payments, or negotiate lower payoff balances.

For everyone else – those who have multiple debts they want to payoff and are in a position to make extra principal payments – ReadyForZero can be just what you’re looking for.

It’s a tool that can help you to reorganize your finances around the purpose of paying off debt and to do it in the least amount of time.

If you’re interested in taking advantage of the ReadyForZero 30-day free trial , check out their website and see if it will work for you.

Click here to get started with ReadyForZero with a 30 day free trial.

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Published or updated February 25, 2013.

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