noun
money that is owed and should have been paid earlier
adjective
being in arrears, or behind in payment
-
The tenant failed to pay the rent on time, resulting in arrears accumulating each month.
-
My friend is in arrears with his phone bill and keeps getting reminders to pay up.
-
I'm so broke right now, I'm drowning in arrears with all my bills.
-
The company's lack of innovation put them in arrears with their competitors, causing them to fall behind in the market.