Definition, Meaning & Synonyms

overdue payment

noun

/ˈoʊvərˌdjuː ˈpeɪmənt/

Definition

A payment that has not been made by its due date.

Examples

My credit card bill is an overdue payment and I need to pay it immediately to avoid late fees.
They sent me a reminder notice about my overdue payment for the utility bill.
The landlord charged me a penalty for the overdue payment of my rent.

Meaning

An overdue payment indicates that a financial obligation, such as a bill or invoice, has not been settled on the scheduled date, often leading to penalties or interest charges.