arrears

Arrears are accumulated debt s that have 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 reviewed in June of 2022 by the Wex Definitions Team ]

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