Definition of "incurrence" [in•cur•rence]

• The act of incurring something (noun)

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• "Our economic problems were caused mainly by incurrence of far too much debt by individuals and firms, and secondarily, by ill-conceived investments in securities comprised of such debt."
• "At bottom, there is general agreement as to the principal factor in our financial crisis being the incurrence of excessive debt -- mainly, but not exclusively real estate related -- by individuals and businesses."
• "The underlying problem was the incurrence of the debts and not the manner in which they were packaged."