arrears
What does "arrears" mean?
Arrears refers to money that is owed and should have been paid at an earlier time. The mental image is of a debt that has "fallen behind" the schedule of expected payments, creating a backlog of financial obligations that are now overdue. While this term is most commonly used in financial, legal, or accounting contexts, it is specifically associated with recurring payments like rent, mortgage installments, or child support. It carries a sense of being "in the red" or delinquent, often implying that the debtor is struggling to catch up with a mounting balance.
"arrears" in conversation
Discussing rent
You are currently two months in arrears on your rent.
You are currently two months in arrears on your rent.
I know, I’m so sorry. I’ll have the full amount by Friday.
I know, I’m so sorry. I’ll have the full amount by Friday.
Used here to specify exactly how far behind the payment schedule the tenant has fallen.
Checking a loan statement
Your account shows you are in arrears for your last three mortgage payments.
Your account shows you are in arrears for your last three mortgage payments.
Is there any way to restructure the debt so I don't lose the house?
Is there any way to restructure the debt so I don't lose the house?
Shows the serious, formal tone used by financial institutions when identifying overdue debts.
"arrears" in a sentence
The company is in arrears with its tax payments.
The company is in arrears with its tax payments.
He worked hard to pay off the arrears on his student loan.
He worked hard to pay off the arrears on his student loan.
Failure to clear the arrears within thirty days will result in legal action against the tenant.
Failure to clear the arrears within thirty days will result in legal action against the tenant.
