The acronym CBNA on a credit report can stand for one of two things: Credit Bureau of North America, LLC or Citibank North America. Credit Bureau of North America is a collection agency, notes Creditmagic.org.
The account holder first needs to determine if he was contacted by the bank or the collection agency. Either way, it most likely concerns an outstanding debt, notes Creditmagic.org. The next step the consumer should take is to determine if it is an error or a legitimate old debt.
If the debt is not legitimate, ask the agency to validate it with a debt validation letter. If the debt is with a creditor, ask it to verify the account. If it cannot, file a dispute with the three major credit bureaus so that the incorrect debt gets deleted from their records.
If the debt is legitimate, find out if the statute of limitations is expired for the debt. If so, the collection agency cannot file a lawsuit to collect on it. If the debt has not expired, contact Citibank North America or Credit Bureau of North America to try and reach a settlement. Most agencies or creditors will work out a payment arrangement with people who cannot pay a debt in full right away.