The top debt holders are, in order: China, Japan, UK, Hong Kong, Canada, Taiwan, and Russia. (I left the ones who haven't appeared in Hetalia yet out.)
The nations who lent America money are all finally getting sick of the wait. So they force him to do ridiculous things in order to pay that off. The thing is, there's no way that a few favors will pay off billions or even trillions of debt. Someone eventually lets it slip that they're just messing with him and America plots to get them back.
Honestly, I wouldn't mind either way if this is a dark fic or a cracky one. ;D
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