arrears

arrears

plural noun

"Arrears" means overdue payments or debts that are unpaid by their due date. It refers to money owed that should have already been paid.

 

Example

  1. The company has been struggling to pay off its arrears.
  2. She was threatened with legal action if she didn't pay her arrears.
  3. We need to clear the arrears before the end of the month.