Arrears
Money that is owed and should have been paid earlier, such as overdue rent, child support, or loan payments.
Encyclopedia entry: Arrears
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arrears
Arrears are accumulated debt s that have not yet been paid upon the due date. For instance, if someone falls $5000 behind in paying for their mortgage , then they have built up $5000 in arrears.
See also: arrearages .
See, e.g., Simmons v. NYS Dept. of Social Services (2019) .
[Last reviewed in June of 2022 by the Wex Definitions Team
]
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.