The aggregate of contractual payments that are due on a loan (or broadly, a debt) and that have not been made by the borrower/ debtor. A loan is in arrears when payments of interest and/ or principal have not been made by the contractually set date or dates.

Arrears may also arise from any contractual arrangement that involves payment of a consideration (e.g., price or rent) but this payment has not been made as agreed by the parties involved. For example, a landlord (lessor) may sue a lessee for the arrears of rent.

In general, arrears represents a part of a debt that is overdue after missing one or payments or more. The amount of the arrears constitutes the amount accrued from the date on which the first missed payment fell or become due.