What does obsolete mean?

[littlered1003]

I checked my credit report and one of the cbis reporting obsolete on my auto loan. What does this mean? I am still paying this loan and have never been late. Thanks for any help

[lrprn]

I checked my credit report and one of the cbis reporting obsolete on my auto loan. What does this mean? I am still paying this loan and have never been late. Thanks for any help

According to All About Credit Reports at http://www.allaboutcreditreports.com...ditReports.cfm
"The law clearly defines the length of time negative information can remain on your credit report; older information is considered obsolete and must be removed. For example, a bankruptcy or an unpaid IRS tax lien will remain on your report for 10 years. Generally, most other types of information are considered obsolete after 7 years."

Since you are still paying on this debt, obviously this loan is not "obsolete". Sounds like an error on your credit report that needs to be challenged and corrected.