ARREARS Meaning and
Definition
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Arrears refers to the unpaid or overdue debts or payments that someone owes to another party. It typically relates to financial obligations, such as rent, bills, loans, or other forms of monetary liabilities which have not been settled within the agreed-upon timeframe. When a person or organization falls into arrears, it means they are behind on their payment schedule and have defaulted on their payment obligations.
Arrears can occur due to various reasons, including financial difficulties, forgetfulness, miscommunication, or deliberate non-compliance. The term is commonly used in the context of rental properties, where tenants fail to pay their rent on time, leading to arrears. It can also refer to outstanding amounts on credit cards, mortgages, or loans.
The consequences of being in arrears vary depending on the parties involved and the specific circumstances. In many cases, interest or penalties may be charged on overdue arrears, increasing the overall debt owed. Legal action or collection measures may also be taken by the creditor to recover the outstanding payments.
To rectify arrears, individuals or organizations typically need to make immediate payment to clear the outstanding debt. In cases of financial difficulty, negotiation or payment plans may be agreed upon to facilitate the settlement of arrears. It is important to address arrears promptly to avoid further financial strain and potential legal consequences.
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A sum of money past due; what remains unpaid.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for ARREARS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for ARREARS
Etymology of ARREARS
The word "arrears" is derived from Old French "arere", which means "behind". This Old French term comes from Latin "ad" meaning "to" and "retro" meaning "backward". Over time, "arere" developed into the word "arrear" in Middle English, which specifically referred to something being behind in payment or not being caught up. From there, it evolved into its current form "arrears", maintaining its meaning of outstanding debt or backlog in payment.
Idioms with the word ARREARS
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in arrears
The idiom "in arrears" refers to the state of being behind schedule, overdue, or late in making a payment, usually in terms of financial obligations or debts. It implies that the payment is not made on time and is owed for a previous period.
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be in arrears
The idiom "be in arrears" means to be behind in making payments or meeting financial obligations. It refers to a situation where someone owes money or has a debt that is overdue.
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get/fall into arrears
The idiom "get/fall into arrears" typically refers to the act of failing to pay money that is owed by the due date or falling behind in making payments. It is commonly used to describe a situation where someone accumulates debt or falls into financial obligations that are past due or overdue.
Similar spelling words for ARREARS
- AEROREUS,
- Orreries,
- wirers,
- Urarize,
- warriors,
- urares,
- arrieros,
- wearers,
- errors-in-variables,
- Auroras,
- uraris,
- AYRRRS,
- errors,
- ouraris,
- wooraras,
- EUROAIRWAYS,
- wooraris,
- wearer's,
- warhorse,
- arrayers,
- IRERS,
- airers,
- araaras,
- worriers,
- araras,
- Arriers,
- arraras,
- IRWRS,
- Warrioress,
- errours.
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