First of all you should not be discussing money on a first, second or even third date. You personal finances are really none of his business while the two of you are merely trying to figure out if you want to see each other again.

As for debt - most everyone has debt. If you have a house, you are paying a mortgage - that's debt. If you are in debt because you lost your job or some other unexpected disaster happened and you are doing your best to get out of it, people will understand and respect that. What nobody wants is someone who is careless and reckless with money. Meaning, you are unemployed and buying $300 pair of shoes just because.