Yes, owing is a Scrabble word!
...and is worth 9 points in Scrabble, and 11 points in Words with Friends
owing
Adjective
1. Owed as a debt
Verb
1. Be obliged to pay or repay
2. Be indebted to, in an abstract or intellectual sense
3. Be in debt
What Scrabble words can I make with the letters in owing?
4 Letter Words
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3 Letter Words
2 Letter Words