arrears

arrears
Unpaid dividends or bond interest that a corporation owes its stockholders or bond holders after the payable or due date on which the dividends or interest should have been paid. American Banker Glossary

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arrears ar‧rears [əˈrɪəz ǁ əˈrɪrz] noun [plural] FINANCE
1. money that is owed because it has not been paid on time:

• Unemployment is the biggest cause of mortgage arrears.

arrears of

• outstanding arrears of rent

ˈdebt arˌrears FINANCE
debt or interest that was not paid when it should have been and is still owed:

• The country recently agreed to pay banks 25% of its $8 billion debt arrears this year.

2. be in arrears if someone is in arrears, or if their payments are in arrears, they are late in paying something that they should pay regularly:

• One in eight mortgage payers is in arrears.

• 221,900 mortgages were more than six months in arrears.

• Thousands of couples are almost £1000 in arrears.

3. fall/​get into arrears to start to be in arrears:

• Borrowers couldn't afford to keep up their payments and so fell into arrears.

4. be paid in arrears to receive your wages or payment for a service at the end of a period of time you have worked:

• You will be paid monthly in arrears.

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arrears UK US /əˈrɪəz/ noun [plural] FINANCE
► money that is owed and should already have been paid: »

He ran into difficulties with his mortgage, building up more than £18,000 arrears.

 »

The government is committed to the full and timely payment of its public debt and arrears.

● in arrears — Cf. in arrears

Financial and business terms. 2012.

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Synonyms:
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Look at other dictionaries:

  • Arrears — is a legal term for a type of debt which is overdue after missing an expected payment. It is also used (in the form in arrears) for payments that occur at the end of a period.Arrears accrue from the date on the first missed payment was due. The… …   Wikipedia

  • arrears — I noun arrearage, back payments, balance due, debit, debt, debt unpaid though due, default, deferred payment, deficit, delinquency, indebtedness, indebtment, liability, obligation, outstanding debt, overdue bill, overdue payment, payments past… …   Law dictionary

  • arrears — [ə rirz′] pl.n. 〚ME arrers < arrere, backward < OFr ariere < VL aretro < L ad, to + retro, behind〛 1. unpaid and overdue debts 2. unfinished business, work, etc. in arrears or in arrear behind in paying a debt, doing one s work, etc. * * *… …   Universalium

  • arrears — ► PLURAL NOUN ▪ money owed that should already have been paid. ● in arrears Cf. ↑in arrears ORIGIN Old French arere, from Latin retro backwards …   English terms dictionary

  • arrears — mid 14c., in times past, from O.Fr. ariere behind, backward, from V.L. *ad retro, from L. ad to (see AD (Cf. ad )) + retro behind (see RETRO (Cf. retro )). Meaning balance due dates from early 15c.; phrase in arrears first …   Etymology dictionary

  • arrears — [ə rirz′] pl.n. [ME arrers < arrere, backward < OFr ariere < VL aretro < L ad, to + retro, behind] 1. unpaid and overdue debts 2. unfinished business, work, etc. in arrears or in arrear behind in paying a debt, doing one s work, etc …   English World dictionary

  • arrears — The amount of money by which a contract or obligation is in default. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • arrears — [n] debt back payment, balance due, claim, debit, deficiency, deficit, liability, obligation, unpaid bill; concepts 332,335 …   New thesaurus

  • arrears — or arrearages Money which is overdue and unpaid; e.g. overdue mortgage or rent payments. Term used to describe cumulative preferred stock dividends that have not been declared on time …   Black's law dictionary

  • arrears — or arrearages Money which is overdue and unpaid; e.g. overdue mortgage or rent payments. Term used to describe cumulative preferred stock dividends that have not been declared on time …   Black's law dictionary

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