Account scheduled to go off record in 2008

I'm not sure what it really means. OK here it goes , on one of my accounts says

"This account is schedules to continue on record until May 2008"

Does that mean that it will come off at that time?

Thank you for all of you help, and your web site it great keep up the good work
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recorded within the company?
recorded and reported to a bureau or bureaus?
transunion equifax experian

the answer would be to look at your credit report now
and
check date of last activity on the same account.

and while your at it, all your accounts.

2008 would suggest the date of last activity would be
2001 last payment activity on this account 000111

remember accounts inactive for more than 24 months will
never help your score.