Debt rate can be beaten (8)
I believe the answer is:
battered
'beaten' is the definition.
(battering is a kind of beating)
'debt rate can be' is the wordplay.
'can be' is an anagram indicator.
'debt'+'rate'='debtrate'
'debtrate' anagrammed gives 'BATTERED'.
(Other definitions for battered that I've seen before include "Bashed" , "Beaten-up, knocked about" , "Struck violently and repeatedly" , "Buffeted" , "Injured; like fried fish" .)