Definition, Meaning & Synonyms
arrears
noun
/əˈrɪrz/
Definition
Arrears refers to the state of being behind in payment or obligation that is due.
Examples
- She has fallen into arrears on her rent payments.
- After missing several installments, he found himself in serious arrears.
- The company has a significant amount of arrears with its suppliers.
Meaning
It specifically highlights amounts of money that are owed and have not been paid by their deadlines.
Synonyms
- debt
- default
- overdue
- back payment
