here are a few steps that will help u get out of debt
1. Stop using turns
2. Disband all fleet
3. Sell items on market
4. Check important events to tell if things are sold
5. When they sell log out and back in
Reasons:
1. Using turns will ensure you keep increasing your debt through both upkeep on ships and debt interest
2. As above stated ships require upkeep per turn, watch your future spending by clicking on income and seeing where you spend.