Getty Images 
While it can be relatively easy to accumulate a lot of credit card and loan debt, erasing what you owe is considerably more difficult. And this is particularly true in the unique economic climate of May 2025. Currently, credit card interest rates are hovering just under a record 23% high. That’s $23 in interest for every $100 borrowed. Personal loan rates, meantime, are better, but still comfortably in the…
