Borrow $4,000 From A Buddy To Pay Off Credit Card Debts Fast

In order to pay off our credit card debts fast and save some interest charges, we decided to borrow $4,000 from one of our close buddies. He was shocked that we have to pay 18% interest charges per annum.

He is a school teacher and a very thrifty guy. His eyes rolled wide when he found out that we are now loaded with $55,846 credit card debts. Without much hesitation, he suggested that he lend us $4,000. Free of interest !

But my hubby and I don’t want to take advantage of his kindness, so we will pay him 10% interest per annum. Aren’t we lucky to have a close buddy who is willing to lend us money to pay off our credit card debts fast ?