Are you unaware of any THD/CBSD account reported on your credit report?
You might find an account in the name of THD/CBSD reported on your credit report. If you are not sure about this account, you must dispute this item with the credit bureau reporting it. THD/CBSD stands for The Home Depot / Citibank South Dakota. If you are seeing this item reported on your credit report, it might be possible that you were having a Home Depot credit card from Citibank and your previous payment history is showing up on your credit report. If you are seeing this item by error, you must report it to the credit bureau or contact Citibank for disputing this item.
However, if this item is found to be correct, then you must repay this account to see a positive effect on your credit report. Call Citibank and put your payment proposal. Tell them that you have all intentions to pay this account as soon as possible. Once you have paid off this item, your credit scores will improve.
If you had an account with THD/CBSD and have paid it off, but showing as not paid, then you have to dispute the item either with the credit reporting agency or contact Citibank to resolve this error.
The toll free number of THD/CBSD is 1-866-875-5488. You may call the customer support for more information.
In most of the cases, Citibank tries to collect the balance from the customer by working out a payment plan. In case, they are not able to recover the money, they forward the account to some outside collection agency.
It is often tough to work out a settlement plan on a Citibank account. They will usually like to settle the account on their terms, rather than agreeing with your terms. Hence, many people leave the account as unpaid until it is sent to collections. It is often easier to negotiate with the outside collection agency than Citibank.