Literal Translation: to be deep in someone’s chalk
English saying: to be up to one’s ears in debt to someone, to be deeply indebted to someone
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example 1
Wir haben zwar unser Traumhaus gebaut, aber jetzt stehen wir bei der Bank tief in der Kreide.
It is true that we bought the house of our dreams, but now we are up to uour ears in debt to the bank.
example 2
Herr Berger verliert beim Pokern ein Spiel nach dem anderen. Gegen Mitternacht steht er bei seinen Partnern bereits tief in der Kreide.
Mr. Berger loses one game of poker after the other. Towards midnight, he is already up to his ears in debt to his game partners.
example 3
Karl sagt zu Daniel: “Ohne deine Hilfe hätte ich das nie geschaftt. Jetzt stehe ich bei dir tief in der Kreide. Wie kann ich dir eine Freude bereiten?”
Karl says to Daniel, ‘Without your help I would have never made it. Now I am deeply indebted to you. What can I do to make you happy?’

It is true that we bought the house of our dreams, but now we are up to uour ears in debt to the bank.
Mr. Berger loses one game of poker after the other. Towards midnight, he is already up to his ears in debt to his game partners.
Karl says to Daniel, ‘Without your help I would have never made it. Now
I am deeply indebted to you. What can I do to make you happy?’