2007-03-06 03:16:37 · 8 answers · asked by shafay w 1 in Business & Finance ➔ Credit
It means that you are behind. If a creditor says that you are "in arrears"-then that means a payment is late. Webster defines it as: The state of being behind in the discharge of obligations — usually used in plural
2007-03-06 03:33:04 · answer #1 · answered by exirsman 5 · 0⤊ 1⤋
Arrears, or arrearages is a legal term for the type of debt which is overdue after missing an expected payment. Arrears accrue from the date on the first missed payment was due. The term is often used to describe being late with rent, royalties (or other contractual payments), child support, or other legal financial obligation.
This should not be confused with the singular "arrear", which is usually used to describe contractual entitlements which fall due to be paid at the end of an accrual period, such as an interest payment or a job wage or salary.
For example, a housing tenant who is obliged to pay rent at the end of each month, but who has not paid rental due for 90 days is said to pay rent in arrear, but to be three months in arrears.
2007-03-06 03:24:46 · answer #2 · answered by cutesy76 6 · 1⤊ 0⤋
OK like with me, my baby dad owns me arrears, its back pay like in child support.
2007-03-06 03:51:36 · answer #3 · answered by shorty21 5 · 0⤊ 0⤋
The amount of debt in which you are behind in payments or someone is behind in owing you.
2007-03-06 03:24:08 · answer #4 · answered by Jean S 4 · 1⤊ 0⤋
An unpaid, overdue debt or an unfulfilled obligation.
-MM
2007-03-06 03:22:03 · answer #5 · answered by Anonymous · 1⤊ 0⤋
You're behind in your payments.
2007-03-06 03:21:31 · answer #6 · answered by kalusz 4 · 1⤊ 0⤋
some payment has not being paid, they are pending from sometime.
2007-03-06 03:24:52 · answer #7 · answered by dipshree i 2 · 0⤊ 1⤋
mnm313 is correct.
2007-03-06 03:31:50 · answer #8 · answered by ? 7 · 0⤊ 0⤋