as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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describe how a person can incur debt.
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a person can incur debt in a variety of ways, such as taking out a loan or using credit cards to make purchases. debt can also be incurred from unpaid bills, such as utilities or medical bills. in some cases, debt may be inherited or passed on from family members.
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