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(+1)

When paying out for mercenaries; I noticed that at some point I started having to pay off 'debt' or something? What's up with that? I don't recall ever going into debt

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You have to pay their daily wages (for being in active party), and if they are not in the party for some reason: you still have to pay the wages under the name of debt. There's no more payments once they are stored after the debt payment or lost to the world.

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Partially true, you never pay followers not in your party except the moment you dismiss them or transfer them out.

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I've sometimes noticed that while I have like 2-3k in the bank and dismissed members, some guys will go missing though.

Followers waiting around at points of interest have a small daily chance to leave to go find other work. Your party's money has nothing to do with that.

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There are some actions you can do like dismissing followers or transferring them out of the party that will create some debt, even if you have the money. The debt will be repaid the next morning. This was done so the player wouldn't immediately get stuck in a trap of "I can't fire anyone or move them out of the party because I can't afford it right now".

Debt also accumulates if you can't cover followers' daily wages in full at the start of the day, but that doesn't sound like your scenario.