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Arrears: meaning, definitions and examples

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arrears

 

[əˈrɪəz ]

Definitions

Context #1 | Noun

financial

The state of being behind in the payment of debts or obligations.

Synonyms

debts, outstanding balance, overdue payments.

Which Synonym Should You Choose?

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Word Description / Examples
arrears

Use this when referring to overdue payments that have not been settled on time, typically in the context of rent, bills, or other financial obligations.

  • He is in arrears with his rent payments.
  • The company has fallen into arrears with its supplier payments.
debts

This is a broad term that describes money that is owed or due to be paid. Debts can apply to loans, credit cards, or any borrowed amount.

  • He has accumulated a lot of debts over the years.
  • Paying off student debts can take decades.
overdue payments

Refer to payments that should have been made by a certain date but were not. This term often implies a reminder or warning.

  • Your account has several overdue payments.
  • He received a notice for overdue payments on his mortgage.
outstanding balance

Typically used in the context of an unpaid amount on an account, such as a credit card or utility bill, that has not been fully paid yet.

  • You have an outstanding balance of $200 on your credit card.
  • Please pay your outstanding balance by the end of the month.

Examples of usage

  • He was unable to clear his arrears on the loan.
  • The company faced legal action due to outstanding arrears.
Context #2 | Noun

legal

The state of being behind in the performance of a duty or task.

Synonyms

default, delinquency, neglect.

Which Synonym Should You Choose?

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Word Description / Examples
arrears

Use when someone is behind on a regular payment, such as rent or a loan. It has a formal and somewhat neutral tone.

  • He is in arrears with his mortgage payments.
  • The company found itself in arrears after several clients failed to pay on time.
delinquency

Used to describe overdue payments, particularly when a payment has not been made by its due date. Often has a negative connotation.

  • The account is now 30 days past due and is considered delinquent.
  • His credit score was damaged by the frequent delinquencies on his credit card bills.
default

Used in formal contexts, especially when someone has failed to meet a financial obligation or payment. It often implies legal or financial consequences.

  • If you default on your loan, the bank may repossess your house.
  • The company defaulted on its debt, leading to a major financial crisis.
neglect

Describes a failure to care for or give proper attention to something, not just in financial contexts. It generally has a negative connotation.

  • The garden showed signs of neglect after the owner left for vacation.
  • Children who suffer from neglect often face emotional and physical challenges.

Examples of usage

  • He was in arrears with his rent for several months.
  • The project fell into arrears due to lack of resources.

Interesting Facts

Etymology

  • The word comes from Middle English 'arere', which means 'at the back' or 'behind'.
  • It has roots in the Old French word 'arrière', meaning 'behind' or 'to the rear', linking the concept of delay.
  • The term was first recorded in usage around the 15th century, indicating financial obligations that are overdue.

Legal Context

  • In legal terms, arrears often relate to outstanding payments like rent or child support that need to be paid.
  • Many jurisdictions have specific laws that define how arrears accumulate and the penalties for not paying them.
  • Mortgages may include clauses regarding arrears, which could lead to foreclosure if payments are not made in a timely manner.

Finance

  • Arrears can accumulate interest, which means the total amount owed can grow over time if payments are missed.
  • Utility companies often track arrears, and failure to pay can result in service disconnection.
  • In certain pension plans, contributors may fall into arrears if they do not make payments on time, affecting their retirement benefits.

Cultural References

  • In literature, characters dealing with arrears often represent broader themes of responsibility or consequence.
  • Movies and plays sometimes depict the struggle of individuals facing arrears, emphasizing the impact of debt on personal relationships.
  • Arrears are often used in storytelling as a plot device to explore moral dilemmas surrounding financial obligations.

Psychology

  • People dealing with financial arrears may experience increased anxiety and stress, as unpaid debts can create fear of consequences.
  • The shame associated with being in arrears can lead to social isolation and avoidance of financial discussions.
  • Research indicates that financial stress, including arrears, can significantly affect mental health and overall well-being.

Translations

Translations of the word "arrears" in other languages:

🇵🇹 atrasos

🇮🇳 बकाया

🇩🇪 Rückstände

🇮🇩 tunggakan

🇺🇦 заборгованість

🇵🇱 zaległości

🇯🇵 滞納

🇫🇷 arriérés

🇪🇸 atrasos

🇹🇷 gecikmeler

🇰🇷 연체

🇸🇦 متأخرات

🇨🇿 nedoplatky

🇸🇰 pohľadávky

🇨🇳 欠款

🇸🇮 zaostanki

🇮🇸 eftirstöðvar

🇰🇿 берешек

🇬🇪 დაგვიანებული ვალდებულებები

🇦🇿 gecikmələr

🇲🇽 atrasos

Word Frequency Rank

Position #9,627 indicates this is an advanced-level word. While not essential for basic communication, it will enhance your ability to understand and create more nuanced content.