The term used to describe how long negative information should stay in a credit file before it is no longer considered relevant to the credit granting decision. The FCRA has determined the obsolescence period to be 10 years in the case of bankruptcy and 7 years in all other instances.


A consumer request for removal of his/her name from future targeted marketing solicitations by direct marketers, banks and credit reporting agencies. Consumers may opt-out by calling 1-888-5OPTOUT.

Outstanding debt

The total amount of debt you owe to your creditors.


An outstanding bill or account not paid when due.