What does arrears mean Meaning and Definition
What does arrears mean
Pronunciation
/ˈɑrərz/
Part of Speech
Noun
Definition
Unpaid debts, taxes, or payments that are overdue, and for which the person or organization responsible has not made the required payments.
Examples
- The company had to make a large payment to clear its arrears with the bank.
- The government agency sent a notice about the impending arrests of individuals with outstanding arrears.
Synonyms
- Overdue payment
- Unpaid debt
- Arrearage
Antonyms
- Payoff
- Clearance
- Settlement
Etymology
The word “arrears” comes from the old French word “arrier,” meaning “to delay” or “to put off,” and is derived from the Latin word “arrire,” meaning “to come late.”
Usage Notes
When using the term “arrears,” it’s essential to specify the type of debt or payment being referred to, such as “tax arrears” or “mortgage arrears.”
Cultural References
The term “arrears” has appeared in various literary works, including Charles Dickens’ novel “Nicholas Nickleby,” where the character Ralph Nickleby is described as being in arrears with his debts.
Idiomatic Expressions or Phrases
- “In arrears” – being behind in payments or debts
- “Clear one’s arrears” – to pay off outstanding debts or payments
Related Words or Phrases
- Arrearage
- Debt
- Payment
- Tax
Collocations
- “Arrears of pay”
- “Arrears of tax”
- “Arrears of debt”
Frequency of Use
The word “arrears” is relatively uncommon in everyday language, but it is frequently used in financial and business contexts.
Common Misspellings
- Arirs
- Arrers
- Arsars