arrears
n.
overdue payments, unpaid debts
arrear
n.
condition of being behind or delayed, condition of having an uncompleted duty
Arrears
Arrears, or arrearages is a legal term for a type of
debt which is overdue after missing an expected payment. Arrears accrue from the date on the first missed payment was due. The term is often used to describe being late with
rent,
royalties (or other
contractual payments),
child support, or other legal financial obligation.
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arrears
Noun
1. the state of being behind in payments; "an account in arrears"
(hypernym) indebtedness, liability, financial obligation
2. an unpaid overdue debt
(hypernym) debt
Arrears
A debt that is not paid on the due date adds up and accumulates as 'arrears'. - (
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Arrears
A debt that is not paid on the due date accumulates as 'arrears'. E.g., if a tenant doesn't pay rent, the debt still exists and is referred to as 'arrears'. Also used to describe child or spousal maintenance or support which is not paid by the due date.
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