Bobby has debts in abundance (7)
I believe the answer is:
copious
'in abundance' is the definition.
(I've seen this before)
'bobby has debts' is the wordplay.
'bobby' becomes 'cop' (I've seen this in other clues).
'has' means one lot of letters go next to another.
'debts' becomes 'IOUs' (promises to pay debts).
'cop'+'ious'='COPIOUS'
(Other definitions for copious that I've seen before include "Ample" , "abundance" , "great supply?" , "Many" , "Rich" .)