What Does ARRS Stand For?

ARRS stands for Arrears Arrearages

ARRS, or Arrears Arrearages, refers to the outstanding amounts owed that have not been paid by an obligor by their due date. This financial term encompasses any overdue payments or debts that have accumulated over time, indicating a delay in fulfilling financial obligations. ARRS is often used in contexts such as loans, leases, and other contractual agreements, highlighting the importance of timely payments and the implications of delinquency on financial health.