Arrears is defined as debt that has accumulated and that has not yet been paid upon the due date. For instance, if someone falls $5000 behind in paying for their mortgage, then they have built up $5000 in arrears. See also: arrearages.
See e.g., Simmons v. NYS Dept. of Social Services (2019).
[Last updated in June of 2022 by the Wex Definitions Team]