ARREARS | Logbook Loans Glossary | Autopawn
When scheduled loan or other credit repayments are overdue, you are classed as being in arrears.
People who are in arrears may experience problems gaining further credit as it affects your credit rating. Or if the debt is secured against a property, it could be repossessed to clear the arrears. So it's always a serious situation to be in and worth avoiding if at all possible. Being in arrears can be very stressful, but don't bury your head in the sand. Talk to your creditors and seek support from National Debtline or Citizens Advice.



