Question

What is the arrear amount in electricity bill?

Answer 1

Answer:

Arrears is the legal term for a part of a debt that is past due owing to the failure to make one or more necessary payments. The amount due in arrears is the amount payable since the first missed payment’s due date. The term commonly referred to payments that are made on a regular basis, such as royalties, rent bills and child support.

• When the estimated debt, obligation, or duty is overdue, an account is considered to be in arrears.
• If one or more payments have been missed in payments, including mortgage or rental payments and utility or phone bills, where regular payments are needed by contractual arrangement, the account is in arrears.