Debt that has accumulated and that has not yet been paid upon the due date. See arrearages.
Definition from Nolo’s Plain-English Law Dictionary
Money that a party fails to pay when due. Often the sum of multiple unpaid amounts, such as rent, installments on an account or promissory note, or monthly child support. A person who has failed to make payments is "in arrears" for the amount due.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm