There will always be credit/debt. It will arise spontaneously, not least in the manufacturing cycle, when goods are ordered but only paid for on completion of being manufactured. In the meantime costs and salaries must be paid. Credit notes arise and circulate as money to facilitate this. These notes used to be called Real Bills. They are settled for bitcoin or gold upon payment for the goods manufactured. The problem comes when the debt issued becomes unmoored from the settlement amount. Like in fractional reserve banking. I don't know how you solve this problem. I don't think you can.