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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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."

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Council tenants on Universal Credit are in arrears by PS1,006 on average, compared with PS384 for tenants on Housing Benefit.
On the other hand, the percentage of the population in arrears was below 2 per cent in seven EU Member States: Estonia (1.8 per cent), Germany (1.6 per cent), Ireland and Lithuania (both 1.4 per cent), Croatia and Poland (both 1.3 per cent) and Romania (0.9 per cent).
Newcastle is not alone in reporting an increase in arrears. Southwark Council reported in September that rent arrears have gone up by PS1.3m since the system was introduced.
"With 33,000 in arrears of two years or more the Government and the Central Bank need to place a greater emphasis on resolving these cases.
She said: "Despite talk about the upturn in the economy, the level of commercial rate arrears stands at 36% at the end of 2014 with a total of 7,410 Dublin City account holders in arrears.
* A new disconnect policy will give property owners notification that tenants are in arrears and disconnection is pending;
We find only a slight difference in the proportion of performing versus distressed borrowers who are employed in the public sector; about 30 per cent of performing borrowers work in the public sector relative to 26 per cent of borrowers in arrears. Furthermore, 86 per cent of performing borrowers are employed in a permanent job, as compared to 76 per cent of non-performing borrowers.
The research has revealed that a typical NLA member landlord, with an average portfolio of 12 lettings, has four tenants in arrears and the average arrears owed by tenants is pounds 2,363.
Repayments for public loans to small and midsize companies and those for fatherless families were among major items that saw a growth in arrears.
Other members are under sanctions for being in arrears and are prohibited from speaking at AU meetings.
The release of US$146 million in ratified IDB loans is pending payment some US$30 million in arrears to the Washington-based IDB.