Arrears

A sum of money that has not been paid or has only been paid in part at the time it is due.

A person who is "in arrears" is behind in payments due and thus has outstanding debts or liabilities. For example, a tenant who has not paid rent on the day it is due is in arrears.

Arrears may also refer to the late distribution of the dividends of cumulative preferred stock.

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arrears n. money not paid when due, usually the sum of a series of unpaid amounts, such as rent, installments on an account or promissory note, or monthly child support. Sometimes these are called "arrearages."