What does AURORABANK mean on my credit report?

Is AURORABANK making an impact on your credit score?

Updated January 1, 2023

What is AURORABANK?

AURORABANK is shorthand for Aurora Bank & Trust, with the company name being Aurora Bank & Trust

AURORABANK is a Bank provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Aurora Bank & Trust.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Real estate

How do I contact them?

Here is the current contact details for Aurora Bank & Trust:

Address:

  • PO Box 714
    Rosemont, IL 60018

Website:

Email:

Phone:

Payments

payment is not made through Wintrust Mortgage. To make a payment you can contact FEMA at 800-621-3362 or visit www.fema.gov. Alternatively, you can use the Online & Mobile Banking services provided by Wintrust Community Banks to access the services that help you manage your day-to-day banking needs.customers may make payments online if they are a Wintrust Mortgage customer impacted by a natural disaster.Wintrust Mortgage customers can make payments using their mobile app.there are no penalties for late or missed payments if your bank is going through a merger or acquisition.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? No
Can I make a payment using a wire transfer? No

Forgiveness and Cancellation

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online with Wintrust Mortgage. Customers impacted by a natural disaster can call or email for assistance. Additionally, FEMA is also available to help. Mergers and acquisitions require approval from the Federal Reserve and may take months. Customers may receive notices with legal documents and marketing materials outlining changes to their bank.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? No

SmartCredit Report Example

  • This is an example of what this creditor will look like on your SmartCredit report.

AURORABANK SmartCredit Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What is a Bank

A bank is an institution where money is kept for saving or commercial purposes. They are able to offer Loans and Mortgages which means they have the ability to report on your credit. Banks are generally felt as untrustworthy (30% confidence rating in the USA) by the general public. Banks can make mistakes on your credit report which may lower your credit score, potentially damaging your credit report and costing you money.

How do I remove AURORABANK from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.