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arrears (noun) payments delayed.
Payments like rent, interest on loans, installments of hire purchase, etc., which have to be paid regularly but have been delayed, are arrears. Your rent is in arrears, or you are in arrears of rent, if you fail to pay it regularly. If a company fails to pay salaries on time to its employees, the company has to pay the arrears of salaries to them.
- Tom is in arrears of two months' rent, and the landlord has asked to clear the arrears and vacate the rooms immediately.
- The arrears of loan installments to be paid by the company to the bank have run to millions of dollars, and so the bank has sued the company for the recovery of the arrears.