Definition: Arrears

EU-SILC

Amount owed (bills, rent, credit/mortgage repayment, etc.) not paid on schedule during the last 12 months for financial reasons.
Source:
European Union, Commission Regulation (EC) No 215/2007 of 28 February 2007 on implementing Regulation (EC) No 1177/2003 of the European Parliament and of the Council concerning Community statistics on income and living conditions (EU-SILC) as regards the list of target secondary variables relating to over-indebtedness and financial exclusion.
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