Disputing vs. Not disputing or how long do I wait?

[Anonymous]

I paid off a charge off 3/31.  My DOFD was May 2010.

I didn't really have a choice about paying it off, it was a 2nd mortgage and I sold the house.  Liens and all that.

Anyway, the account is still showing on my report as charged off, not paid.  It should be falling off this month anyway, correct?  How long do I wait for the account to disappear or at least for the balance to show as paid before I dispute it?  It actually did report as PIF on only Experian, and it disappeared.  Do I just give it some more time to drop off TU and EQ?

[RobertEG]

The exclusion of a charge off under the FCRA is no later than 7 years plus 180 days, which would make the lack of exclusion disputable after 11/2017.

Since the CRAs normally exclude at approx. 7 years, it should become excluded this month.

If it does not, then make an informal call and inquiry as to when it is expected to become excluded.

A formal dispute should be delayed until the full exclusion period has passed.

[Anonymous]

I'm actually guessing on the DOFD.  I believe it was around that time, but I'm not actually sure.  How would I find out the DOFD?  It doesn't show on any of my credit reports because it was originally with HSBC and transferred to Ditech about 2.5 years ago.  Experian says that it will show when it will drop off on your report, but it doesn't.  For the record, it has actually dropped off my Experian report, but is still on EQ and TU. 

[Anonymous]

Well, I went ahead and disputed it with EQ and TU.  Both because the balance is reporting incorrectly and I wanted the DOFD.  TU already deleted it.  In less than 12 hours.  Now we wait and see what EQ does!