Definition, Meaning & Synonyms
arrear
Noun
/əˈrɪr/
Definition
An amount of money that is overdue and not yet paid.
Examples
- He fell into arrear on his mortgage payments.
- The company faced penalties for being in arrear with its tax obligations.
- After months of arrear, she finally managed to settle her debts.
Meaning
The term ‘arrear’ is often used in financial contexts to describe a situation where payments or debts are overdue, indicating a state of being behind in payment.
Synonyms
- debt
- overdue payment
- default
- delinquency
- liability
