Artist returns and brings up debt (7)
I believe the answer is:
arrears
'debt' is the definition.
(thesaurus)
'artist returns and brings up' is the wordplay.
'artist' becomes 'ra' (Royal Academician, member of Royal Academy of Arts).
'returns' is a reversal indicator.
'and' says to put letters next to each other.
'brings up' becomes 'rears' (rearing is a kind of bringing up).
'ra' reversed gives 'ar'.
'ar'+'rears'='ARREARS'
(Other definitions for arrears that I've seen before include "In these, payment is overdue" , "Amount unpaid" , "Back payments due on a debt" , "Outstanding payments" , "Overdue debt" .)