PayDown - Terms of Service

Last Updated: April 4, 2026

1. Agreement to Terms

By downloading, installing, or using PayDown (“the App”), you agree to these Terms of Service (“Terms”). If you do not agree, do not use the App. The App is developed and operated by Fog Hill LLC (“we,” “us,” “our”).

2. Description of Service

PayDown is a mobile application that helps users create and follow a debt payoff plan. Users manually enter their debts (credit cards, loans, student debt), set a monthly available payment, and the App calculates a step-by-step payoff plan using the Snowball (lowest balance first) or Avalanche (highest interest first) method. Users can log payments and track their progress toward becoming debt-free. All data is stored locally on your device using Apple’s SwiftData framework. No data is uploaded to external servers. The App does not connect to bank accounts or access external financial institutions.

3. Financial Disclaimer

PayDown is not a financial advisor, lender, or financial institution. The App provides mathematical calculations and organizational tools to help you plan your debt payoff. The payoff plans, projections, interest calculations, and timelines provided by the App are estimates based on the information you enter and are for informational and educational purposes only. They do not constitute financial, tax, legal, or investment advice. You should consult a qualified financial professional before making significant financial decisions. Fog Hill LLC is not responsible for any financial decisions you make based on information provided by the App.

4. Eligibility

You must be at least 13 years old to use the App. By using the App, you represent and warrant that you meet this age requirement.

5. Subscriptions and Payments

Free Tier

The App offers free functionality including tracking up to 3 debts, basic Snowball and Avalanche payoff plans, and payment logging.

Subscriptions automatically renew unless cancelled at least 24 hours before the end of the current billing period. Manage subscriptions through Apple ID settings. Refund requests are handled by Apple at reportaproblem.apple.com.

6. User Conduct

You agree not to use the App for any unlawful purpose, attempt to reverse engineer or modify the App, use automated systems to extract data, or misrepresent information provided to the App.

7. Intellectual Property

The App is owned by Fog Hill LLC and protected by copyright and intellectual property laws. You are granted a limited, non-exclusive, non-transferable, revocable license to use the App for personal, non-commercial purposes.

8. Disclaimer of Warranties

THE APP IS PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND. We do not warrant that the App will be uninterrupted, error-free, or free of harmful components. We do not warrant the accuracy of any payoff calculations, interest estimates, or projected payoff dates. All calculations are based on the data you enter and assume consistent payments without changes to interest rates or balances from external sources.

9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, FOG HILL LLC SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES ARISING FROM FINANCIAL DECISIONS MADE BASED ON INFORMATION PROVIDED BY THE APP. OUR TOTAL LIABILITY SHALL NOT EXCEED THE AMOUNT YOU PAID IN THE 12 MONTHS PRECEDING THE CLAIM.

10. Termination

We may suspend or terminate your access at any time. Upon termination, your right to use the App ceases immediately.

11. Dispute Resolution

Disputes shall be resolved through binding arbitration in New York, New York, in accordance with the rules of the American Arbitration Association.

12. Governing Law

These Terms are governed by the laws of the State of New York.

13. Indemnification

You agree to indemnify, defend, and hold harmless Fog Hill LLC and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses arising from your use of the App, your violation of these Terms, or your violation of any rights of another party.

14. Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

15. Changes to Terms

We may update these Terms from time to time. Continued use constitutes acceptance.

16. Contact Us

Email: ben@thefoghill.com

These Terms are effective as of April 4, 2026.