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Noun: arrears  u'reerz
  1. The state of being behind in payments
    "an account in arrears"
     
  2. An unpaid overdue debt
    "The tenant fell into arrears on his rent payments"
Noun: arrear  u'reer
  1. An unpaid and overdue debt or unfulfilled obligation
    "The company fell into arrears on its loan payments"

Type of: debt, financial obligation, indebtedness, liability

Encyclopedia: Arrears

Arrear