Everybody old-fashioned is free of debt (3,6)
I believe the answer is:
all square
'free of debt' is the definition.
I know nothing about this answer so I can't tell whether this works.
'everybody old-fashioned' is the wordplay.
'everybody' becomes 'all' (I've seen this before).
'old fashioned' becomes 'square'.
'all'+'square'='ALL SQUARE'
'is' is the link.
Can you help me to learn more?
(Other definitions for all square that I've seen before include "On equal terms" , "Quits" , "Level" , "Equal, no balance of advantage - totally geometric" , "Mutually clear of debts" .)