👉 In the context of finance or economics, a distressly high rate of interest on a loan is an indication that the borrower may be in financial trouble. This might be due to several reasons including: 1. Poor credit score or insufficient collateral 2. Unexpected expenses or higher debts 3. Difficulty in paying off existing debt 4. Credit card statements showing significant late payments 5. Higher interest rates on loans from other sources These circumstances can lead to a borrower seeking assistance, such as seeking