👉 A reaage is a financial term that refers to a period of time when a borrower or creditor has not paid back all or part of their debt. This can be caused by a variety of reasons, such as non-payment, late payment, or default on payments made during the reaage period. In legal terms, arrearages are considered debts due within an agreed-upon reaage period. The amount of the debt owed is usually stated in a specific form, such as an
