In credit, having debtors, was exultant (6)
I believe the answer is:
crowed
'was exultant' is the definition.
(I've seen this in another clue)
'in credit having debtors' is the wordplay.
I cannot really understand how this works, but
'credit' could be 'cr' (abbreviation) and 'cr' is located in the answer.
The remaining letters 'owed' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for crowed that I've seen before include "was triumphant" , "Boasted" .)