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.