1 definition by OH-BANG-10
A legal term for the part of a debt that is overdue after missing a required payment(s). The term is usually used in relation with periodically recurring payments such as rent, bills, royalties, and child support.
- He ran into difficulties with his mortgage, building up more than $9,000 in arrears.
- About 270,000 homeowners were more than three months in arrears.
- About 270,000 homeowners were more than three months in arrears.
by OH-BANG-10 November 10, 2019