indebtedness vs payable

indebtedness and payable both are nouns.

Word	Noun	Adjective	Verb	Adverb
indebtedness	Yes	No	No	No
payable	Yes	Yes	No	No

As nouns, payable is a hyponym of indebtedness; that is, payable is a word with a more specific, narrower meaning than indebtedness:

indebtedness: an obligation to pay money to another party
payable: a liability account showing how much is owed for goods and services purchased on credit

Other hyponyms of indebtedness include limited liability, debt, arrears, account payable, scot and lot.

indebtedness (noun)	payable (noun)
a personal relation in which one is indebted for a service or favor	a liability account showing how much is owed for goods and services purchased on credit
an obligation to pay money to another party

indebtedness (adjective)	payable (adjective)
	subject to or requiring payment especially as specified