Lake Forest Bank & Trust Company, National Association on Your Credit Report
In short: Lake Forest Bank & Trust Company, National Association is a nationally chartered commercial bank regulated by the OCC, headquartered in Lake Forest, Illinois, operating under FDIC certificate 27589 on a charter established in 1986. The FDIC records 10 offices and $9.3 billion in total assets. It runs a comparatively small branch network (10), which means much of its consumer relationship is handled remotely. Information that is inaccurate, incomplete, or unverifiable can be disputed under the FCRA. Outcomes depend on what the furnisher can verify, and results vary.
Who Lake Forest Bank & Trust Company actually is
Charter details above are from the FDIC BankFind public database.
What makes this creditor different
Lake Forest Bank & Trust Company operates on FDIC certificate 27589, a charter established in 1986 and now 40 years old, and reports 10 offices and $9.3 billion in assets from Lake Forest, Illinois.
How Lake Forest Bank & Trust Company appears on your credit report
As an original creditor, Lake Forest Bank & Trust Company is the furnisher of its own tradelines under FCRA §623 — not an assignee like a collection agency. That matters because you can dispute directly with Lake Forest Bank & Trust Company as well as with the bureaus, and the bank must investigate and correct what it cannot verify.
Names it may report under
Products that commonly show up
- ◆Personal loans and lines of credit
Grounds to dispute a Lake Forest Bank & Trust Company entry
Each of these is a reason a Lake Forest Bank & Trust Company tradeline may be inaccurate or unverifiable. None of them assures removal — they are the angles worth checking on your own report.
- ◆Account still reporting under a bank Lake Forest Bank & Trust Company acquired, creating a duplicate tradeline
- ◆Account balance or credit limit reported incorrectly
- ◆Payment reported late when it was made inside the grace period
- ◆Date of first delinquency re-aged to extend how long it can report
- ◆Account still reporting as open after it was closed, or vice versa
- ◆Duplicate tradeline for the same account after an internal transfer
- ◆Account belongs to someone else with a similar name, or is the result of identity theft
Disputing an original creditor is not the same as disputing a collector
Lake Forest Bank & Trust Company, National Association is an original creditor — the institution whose name was on the account when it was opened. That matters for two reasons. First, the FDCPA, which governs debt collectors, generally does not apply to a creditor collecting its own debt in its own name, so the “debt validation” request that works against a collection agency is not the right tool here. Second, as the furnisher of the tradeline, Lake Forest Bank & Trust Company, National Association has direct obligations under FCRA §623 to investigate a dispute you send it and to correct or delete information it cannot verify as accurate.
Dispute with the bureaus — FCRA §611
File with Equifax, Experian and TransUnion. They must generally investigate within 30 days and tell the furnisher. Free, and you can do it yourself.
Dispute with the furnisher — FCRA §623
Send Lake Forest Bank & Trust Company, National Association a direct written dispute. It must investigate and must not continue reporting information it knows is inaccurate. Keep copies and proof of delivery.
Lake Forest Bank & Trust Company, National Association questions, answered
Is Lake Forest Bank & Trust Company FDIC-insured?
Yes. Lake Forest Bank & Trust Company, National Association holds FDIC certificate 27589, established in 1986, and is a nationally chartered commercial bank regulated by the OCC. Its FDIC record lists Lake Forest, Illinois as the charter location with 10 offices.
How do I dispute a Lake Forest Bank & Trust Company account on my credit report?
You can dispute with Equifax, Experian and TransUnion under FCRA §611, and directly with Lake Forest Bank & Trust Company as the furnisher under FCRA §623. Both routes are free and you can do them yourself without paying anyone. Put it in writing, identify the account by its last four digits and open date, state specifically what is inaccurate, and keep copies. Whether an item changes depends on what Lake Forest Bank & Trust Company can verify, and results vary.
How long can a Lake Forest Bank & Trust Company account stay on my credit report?
A negative account can generally report for up to seven years from the date of first delinquency — the original missed payment that was never brought current. That clock does not restart because the account was charged off, sold to a debt buyer, or transferred to another servicer. If the date of first delinquency has been moved forward, that re-aging is itself a reportable FCRA inaccuracy worth disputing.
Other creditors on credit reports
This page is general information about consumer rights, not legal advice, and does not create an attorney-client relationship. Crowned Credit is not affiliated with, endorsed by, or sponsored by Lake Forest Bank & Trust Company, National Association; company names are used only to identify the institution a consumer may see on a credit report. Crowned Credit does not promise any particular outcome; results vary by individual circumstances and by what a furnisher is able to verify. Accurate, verifiable information generally cannot be removed from a credit report. You have the right to dispute inaccurate information yourself, for free, directly with the credit bureaus and with the furnisher.
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