0_Apprentice
i am indebted to my bank ,what does that mean?
1_Wizard
It means you owe the bank money.  The bank is the lender or creditor
0_Apprentice
so do i have an obligation to repay,since im not fully aware of my debt portfolio
1_Wizard
Yes, if you owe the bank money, you need to pay them back.  It's a moral obligation.
0_Apprentice
well,there was no collateral demanded,it was given based on personal grounds you know
1_Wizard
What kind of debt is it?  There are several kinds, such as mortgages, notes, bonds and loans.
0_Apprentice
simply a loan portfolio so says the bank manager even though i dont understand that jargons
1_Wizard
That's unfortunate.  There should be some contractual terms that shows the amount of repayment and how often payments need to be made. 
0_Apprentice
ok so i need time to offset my debt then
1_Wizard
Yes, and you should be aware of the interest being charged.  That is kind of like "rent" that is owed on borrowed money.
0_Apprentice
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