Is “Debts” a Scrabble word?

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Yes
DEBTS
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Invalid

Meaning of Debts

/dɛts/

noun
  1. 1.An action, state of mind, or object one has an obligation to perform for another, adopt toward another, or give to another.

  2. 2.The state or condition of owing something to another.

    I am in your debt.

  3. 3.Money that one person or entity owes or is required to pay to another, generally as a result of a loan or other financial transaction.