indebtedness /ɪnˈdɛtɪdnəs/ noun4 •State of owing money; being in debt.Laws regarding indebtedness and indenture. — 2001 •The state of owing something or being under obligation to someone.Strong on administrative competence, the ministers as a group were united in their indebtedness to Fleury and in a collective mistrust of any putative successor from the court. — 2002 •The amount owed. •All debts totalled. formsindebtednesses