Admitted Authorised Version had debts to others (6)
I believe the answer is:
avowed
'admitted' is the definition.
(synonyms)
'authorised version had debts to others' is the wordplay.
'authorised version' becomes 'AV' (authorised version of the Bible).
'had debts to others' becomes 'owed' (owed money).
'av'+'owed'='AVOWED'
(Other definitions for avowed that I've seen before include "Professed" , "Confessed openly" , "Acknowledged" , "Declared" , "Openly asserted" .)