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."

arrears

noun arrearage, back payments, balance due, debit, debt, debt unpaid though due, default, deferred payment, deficit, delinquency, indebtedness, indebtment, liability, obligation, outstanding debt, overdue bill, overdue payment, payments past due, pecuniae residuae, state of indebtedness, unpaid bill, unpaid debt
Associated concepts: arrears in taxes, arrears of alimony, arrears of assessment, arrears of dues, arrears of interest, arrears of premiums, arrears of rent, arrears of taxes, judggent on arrears
See also: debit, debt, deficit, delinquency, due
References in periodicals archive ?
B) the obligor's total child support arrearage and retroactive support payment;
When someone pays their arrearages, this consists of the owed mortgage payments in addition to their current monthly mortgage, taxes, escrow payments, corporate advances, and attorneys fees that are charged by the mortgage servicer and the substitute trustee who will be receiving the payments.
Credits are placed in this category when transfer-risk problems have prevented borrowers in the country from fulfilling their obligations to service external debt, as evidenced by arrearages, forced restructurings, or rollovers.
Those with arrearages of not more than six months will get 100 percent discount on unpaid interest, penalties and surcharges.
If there are any arrearages owed at the time the Income Deduction Order is entered, they must be included in the line for arrears, along with the amount and frequency of the payments due for the arrears, which shall be no less than 20% of the current support obligation.
Are there limits on a circuit court's authority to set the amount of a noncustodial parent's periodic payments toward arrearages in child support and maintenance after his current obligation to pay support ends?
This is not a desirable result as the payment of arrearages of support during incarceration is nonexistent and your client is still owed the monies.
FHA allows lenders to refinance in a new FHA mortgage arrearages of three months or more if the borrower has resolved the temporary financial hardship that has caused the default.