Meaning of the word indebtedness in English

What does indebtedness mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

indebtedness

US /ɪnˈdet̬.ɪd.nəs/
UK /ɪnˈdet̬.ɪd.nəs/

Noun

1.

the condition of owing money, or the amount of money owed:

Example:
Household indebtedness is at a record level.
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