3 Things to do if you find ODPT/CBSD on your credit report
ODPT/CBSD stands for Office Depot Credit Card/Citibank South Dakota. If they are listed on your credit report, this means that you might have used an Office Depot card at some point in your life.
What to do if you find ODPT/CBSD on your credit report
Here are the 3 things you can do if you find ODPT/CBSD on your credit report:
- Check whether you owe the debt:
The first thing you should do is check whether you owe the debt. It could be that you took out the card a few years ago and completely forgot about it. Ask the Citibank representatives to validate the debt. If they can prove that you owe the debt, you should negotiate with Citibank to settle the debt before your account is sold off to a collection agency (CA). Once your account is sold off to a collection agency, it may be very difficult for you to settle the debt.
You can settle the debt on your own if you have good negotiation skills. However, if you're not sure you can settle the account on your own, get help from a debt settlement company. The representatives at the settlement company can help you to lower the payoff amount by 40% to 60%. However, once you've settled the account, ask the bank to update the account status on your credit report as "Paid in full" or "Paid as settled".
- Dispute the debt if you've paid off the account:
If you've already paid off the account but it's still listed on your credit report, then dispute it with Citibank or the credit bureau. You should dispute the account within 30 days of the bank's notice of the debt amount. Make sure you send the copies of the bills you've already paid to the bank. Once you prove that you've paid off the card, the bank must stop attempting to collect payments from you. The bank or credit bureau must then remove the ODPT/CBSD account from your report.
- Dispute the account if you don't owe the debt:
If you're sure that you have never owned an Office Depot card, dispute the account with Citibank or the credit bureau where you have gotten your credit report. Ask the representatives at the bank to verify that you owe the debt. If they don't agree to verify the debt, send them a letter asking them to stop contacting you. You should also ask them to remove the inaccurate information from your credit report as soon as possible.
If you want to contact Citibank for payment related problems or for any other issues, then contact them at the following address:
Citibank South Dakota
PO Box 6497, Sioux Falls