The totality of one's debt, OK? (7)
I believe the answer is:
allowed
'ok?' is the definition.
The answer and definition are not the same part of speech. However, past participle verbs and adjectives occasionally define each other.
'the totality of one's debt' is the wordplay.
'the totality' becomes 'all' (I've seen this in another clue).
'of' becomes 'o''.
'one's debt' becomes 'wed' (I can't explain this - if you can you should believe this answer much more).
'all'+'o'+'wed'='ALLOWED'
Can you help me to learn more?
(Other definitions for allowed that I've seen before include "Gave permission" , "Acknowledged" , "Permitted and granted" , "Given the chance" , "Given permission" .)