IPA: /ɪnˈdɛb.tɪd.nəs/
KK: /ɪnˈdɛb.tɪd.nəs/
The condition of having to pay back money or a favor to someone because you borrowed it or received help from them.
After taking out a loan for his house, he felt a sense of indebtedness to the bank.
Indebtedness is formed from "in-" (meaning not) and "debt" (from Old French *dette*, meaning something owed) and the suffix "-edness" (indicating a state or condition). The word refers to the state of being in debt or owing something.
Think of being in a state of owing something ('debt') and that 'in-' means not having freedom from it. This helps you remember that 'indebtedness' means the condition of being in debt.