Credit Repair, credit score and credit reports

THD/CBSD - what does it mean on your credit report?

THD/CBSD stands for The Home Depot / Citibank South Dakota. Presence of THD/CBSD in your credit report means you have a Home Depot credit card from Citibank and your payment history regarding this is documented in your credit report. Such an entry translates to the fact that you have to repay the debt within the specified time period.

In such circumstances you have two options:

You can call Citibank and place your payment proposal. This will help you to improve your credit score.
If you are confident that you have never accessed this card or repaid it in full then you can dispute the item with the reporting agency.

You can also call Home Depot Account Online Support, 1-866-875-5488, for closing your account.

It has been observed that before sending a non-paid account to a collection agency, Citibank generally calls the card holder to work out a repayment plan. If this repayment plan fails then only it sends the account to the collection agency.

But whenever you go to settle an account with Citibank, prepare yourself to face a tough time because they always want you to agree with their settlement plan. Hence, many consider it easy to deal with a collection agency rather than the original creditor - Citibank.

Now, if you settle your debt below the actual owed amount then the forgiven amount is taxable under 1099-C.

Sponsored Form

Fill out the form and get free debt counseling

100% privacy

Secure Form

What happens after signup?

Ask question on this topic
Name
Subject
Message

Message

Author

Posted: Sun Oct 22, 2006 8:04 pm Post subject: THD/CBSD - what does it mean on your credit report?

What does THD/CBSD mean on a credit report?

rcarn

Joined: 22 Oct 2006
Posts: 1

Debtcc Points: 129

Posted: Sun Oct 22, 2006 8:23 pm Post subject: citicards cbsd

I am thinking it's The Home Depot Credit card made available by Citibank here is a phone number for thier customer service Call them For Account Online Support call: 1-866-875-5488

PDLFREE

Joined: 07 Oct 2006
Posts: 1264

Debtcc Points: 18243

Posted: Sun Oct 22, 2006 8:30 pm Post subject: citibank cbsd

Citibank can be a tough #@$)%# to settle a debt with . . . lots of debt settlement companies won't even touch them. The key seems to be to wait until they send the account out to a 3rd party debt collector and make a deal before it gets sent back. _________________ Marcia Brady's Lovechile

MarciaBradysLovechile

Marcia Brady's Lovechile

Joined: 08 Oct 2006
Posts: 59
Location: Langhorne, PA

Debtcc Points: 1259

Posted: Thu Oct 26, 2006 7:56 pm Post subject: thanks for explaining THD/CBSD

OMG! I feel so stupid. That didn't even cross my mind.. Thanks to everybody who helped...

grneyez622

Joined: 26 Oct 2006
Posts: 1

Debtcc Points: 15

Posted: Sun Oct 29, 2006 1:08 pm Post subject: THD/CBSD

I have this on my credit report and don't know what this is? Like is there a name like everything else for people you have had account with?

AUDREY HICKS
Guest

Debtcc Points: 100

Posted: Mon Oct 30, 2006 2:55 pm Post subject: thd cbsd

You now know that the THD/CBSD account is related with Citibank. So, call the company and put your payment proposal. This helps improving your credit a little.

keystrokes

Joined: 13 Jul 2006
Posts: 501

Debtcc Points: 7286

Posted: Thu Nov 09, 2006 10:02 pm Post subject: meaning of thd cbsd

what does thd/cbsd mean

Floyd Maddocks
Guest

Debtcc Points: 100

Posted: Sat Dec 09, 2006 2:38 pm Post subject: credit report

this was my credit report. What does it mean.

julia browning
Guest

Debtcc Points: 100

Posted: Sat Dec 09, 2006 2:42 pm Post subject: thd cbsd

Apparently the THD/CBSD stands for The Home Depot. Do you have an account with them?

brownsugar
Debt Samaritan

Joined: 08 Oct 2006
Posts: 1408

Debtcc Points: 13964

Posted: Sat Dec 09, 2006 2:43 pm Post subject: thd cbsd citibank debt

Alot of times Citibank will ask you to work out a payment plan with them before sending your account to a collection agency. That way once you settle with them, they will attempt to open your account with them again.

bdouble
Debt Samaritan

Joined: 15 Jun 2006
Posts: 356

Debtcc Points: 4449

Posted: Wed Feb 28, 2007 9:40 am Post subject: THD/CBSD

Ihave this on my credit report also. Is it a credit collection agency?

Beth Osborn
Guest

Debtcc Points: 100

Posted: Wed Feb 28, 2007 11:16 am Post subject:

If you all read through the posts it answers the question . . . . . I'm not trying to be rude or anything, but it looks like the question keeps getting asked, then answered, then asked, then answered, then asked, then asnswered . . . . .

goudah2424
Moderator

Joined: 31 Oct 2006
Posts: 8007

Debtcc Points: 111631

Posted: Wed Feb 28, 2007 5:46 pm Post subject: thd cbsd and 1099C consequences

im dealing with citibank now for 2 accounts and they are a pain to negotiate. When I called them,they still hadnt my sent my account to a CA so i was able to work with them but you have to agree to their terms. I had two accounts,one for 2000 the other for 4500. They immediately offered me a settlement but they werent willing to work with what i could offer each month, they wanted this paid off in 12 installments so it was like i either take it or leave it so i took it.(When i mean they i mean Citibank, the people are actually nice and helpful but they kept telling me these are citibank policies and they couldnt do much) Luckily i got a better paying job so its not killing me so much now. FYI-even if you settle,they will send you a 1099-C so taxes will have to be paid on the forgiven debt, from what i read its 40% of the amount of the forgiven debt but i could be wrong.

phacia2010

Joined: 30 Jan 2007
Posts: 45

Debtcc Points: 1920

Posted: Wed Feb 28, 2007 6:23 pm Post subject: thdcbsd

Yeah, that's something a lot of people don't realize. When you settle debt for less the owed, you have to pay taxes on the forgiven amount. Because in a way it is income since you don't have to pay it back. I'm not sure of the percent that you have to pay on, I'd thought it was the whole amount that was forgiven, but I don't know where I got that from, so I very well could be wrong.

goudah2424
Moderator

Joined: 31 Oct 2006
Posts: 8007

Debtcc Points: 111631

Posted: Thu Mar 29, 2007 10:05 am Post subject: FURN/CBSD

Any ideas on "furn"? Thanks!

mm1928
Guest

Debtcc Points: 100

Posted: Thu Jul 12, 2007 10:14 am Post subject: THD/CBSD account closing Online Support call

I found this on my credit as well. I called For Home Depot Account Online Support call, and they were able to close my account: 1-866-875-5488 Send free text messages online: anontext Surf the web Anonymously: freeproxypro