You will need the following items for this spell:
A red candle
Tarot's five of pentacles
When: During the waning moon
Light the red candle. Red represents energy and what you're doing here is drawing on energy to cancel your debt. Say the following words:
before I spit.
Then take the five pentacles or whatever objects symbolizing your debt and and pass it through the candle flames until it catches fire. Let it burn to ashes in the empty bowl. Pitch out the candle's flame, then toss out the candle. On the next new moon, bury the ashes far from your home.