{"iri":"https://folio.openlegalstandard.org/RBd1clKZgj2xZh3Hi4reLVQ","label":"Arrearage","sub_class_of":["https://folio.openlegalstandard.org/R77rieb3DsQdxBQrzBKyb0k"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":"Stemmed from Bankruptcy Project","deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{},"hidden_label":null,"definition":"Arrearage refers to the amount of money that is overdue in a payment obligation, often accumulating as a result of missed or partial payments. Failure to clear arrearages can lead to penalties, higher interest rates, and legal actions such as repossession or foreclosure.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}