Arrears


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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.

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."

References in periodicals archive ?
The NTA had asked Hello Nepal to pay Rs 70 million arrears as first tranche by August 18.
The arrears owed by Chemelil, Muhoroni, Sony, Mumias and Nzoia date back to several years.
Golding homes need to re-procure their rent arrears case load management software to support the business to undertake effective arrears recovery.
Noting that the current arrangement established by the Governor Abiola Ajimobi led government was such that the arrears will be defrayed over the course of 32 months, the staff unions argued that an increase in the current amount will allow the arrears to be defrayed in a shorter possible period.
The PTCL and PTET officials said the institutions have to face shortfall of Rs40 billion in case of providing pensions and arrears to the retired employees which can halt the ongoing projects.
The PTET has been maintaining that it is unable to disburse Rs40 billion in arrears to the 40,000 PTCL pensioners unless it is provided additional funds.
The city council says rent arrears in Birmingham stood at PS6.6 million in March, an average of PS673 for each of the 6,860 tenants owing money.
During hearing, the advocate general Punjab pleaded before the bench that the provincial government had no objection on payment of arrears. However, it was difficult to pay all money at once.
MORE than 650 tenants had their Housing Assistance Payment stopped because they have fallen into arrears with their contributions.
THE Financial Conduct Authority warned last week that they felt some lenders weren't doing as well as they could be for mortgage borrowers who fall into arrears.
CARDIFF council is owed almost PS1m rent arrears due to Universal Credit.
There are currently 1,332 people in council homes who are receiving Universal Credit and 1,094 of them, 82%, are in arrears - compared with just 22% of tenants who are still on the old housing benefit payments.