How to Say "we owed" in Spanish
The most common Spanish word for “we owed” is “debíamos” — use 'debíamos' when referring to a past financial debt or money that was due, often implying an ongoing state of owing..
debíamos
deh-BEE-ah-mos/deˈβi.amos/

Examples
Hace un año, aún debíamos mil dólares al banco.
A year ago, we still owed a thousand dollars to the bank.
Siempre debíamos dinero a nuestros padres después de las vacaciones.
We always owed money to our parents after vacation.
Imperfect for State of Being
When talking about debt, the imperfect ('debíamos') describes a continuous state in the past—the fact that we had an outstanding debt for a period of time.
debimos
deh-BEE-mohs/deˈβi.mos/

Examples
Debimos ir al hospital inmediatamente.
We had to go to the hospital immediately.
Debimos dinero a nuestros padres por el viaje.
We owed money to our parents for the trip.
¿Qué debimos hacer en esa situación?
What were we supposed to do in that situation?
Simple Past (Preterite) Use
The form 'debimos' is used when the obligation or debt started and ended at a specific time in the past, making it a completed action.
Obligation vs. Ongoing Debt
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