Have Chits Out is a phrase used to describe a situation in which someone owes money to another person. It is usually used in the context of a business transaction, such as when a customer has not paid for goods or services they have received. The phrase is derived from the word 'CHIT, ' which is an old-fashioned term for a written record of a debt. The phrase 'have chits out' implies that the person who owes money has not yet settled their debt.