The Credit Scoring Site A bleak account forces Northwestern Mutual to correct itself

Financial conglomerate Northwestern Mutual spreads Myth 11 with preposterous statement about having accurate information kept off credit reports. #myth11

| By Greg Fisher

Credit score myth 11: Lenders lie to credit bureaus.

It's going around, still—this idea that American citizens are so pathetic that they would beg their lenders to lie about the history of their accounts. And it isn't just some silly urban legend. No, it is institutionalized nonsense maintained by the state of New York.

That state's web site states, idiotically

If I pay a delinquent account, will that remove it from my credit report?

No. Payment will not automatically remove the debt. You may be able to negotiate removal of the negative information as part of the payment agreement with a third-party collection agency. The original creditor is not as likely to negotiate removal of the negative information.

If you do attempt to negotiate removal of the negative information from your credit report, make absolutely sure to get the terms of the agreement in writing and signed by someone with the authority to request removal of the information. This is essential because if the collection agency does not follow through with its promise to contact the credit bureaus, you can forward the written agreement to the credit bureaus yourself.

The big shots in New York are Lazaro Benitez (email), and Andrew Cuomo, (the top person) (email).

From: Greg Fisher []
Sent: Wednesday, July 08, 2015 12:42 PM
To: Betsy Hoylman, director of media and public relations, Northwestern Mutual
Subject: credit score, #1507h, Myth 11 (lying lenders), our telephone conversation

What is the name of the person who wrote, "If you do accidentally miss a payment, call the creditor and ask if that information can be kept off your credit report"?

Greg Fisher
Truth and Falsity
Page A2
The Credit Scoring Site
PO Box 342
Dayton, Ohio 45409-0342
skype fisher100
mobile/text 937-681-3224
fax 937-630-3213

From: Betsy Hoylman, Northwestern Mutual
Sent: Wednesday, July 08, 2015 6:23 PM
Subject: RE: credit score, #1507h, Myth 11 (lying lenders), our telephone conversation

Mr. Fisher,

Thank you for sharing your concern about the Forbes Brandvoice article regarding credit scores. I checked with the person responsible for the article and learned the information you objected to could not be verified by a source that meets our standards. The article has been edited and the information removed.


Betsy Hoylman

From: Greg Fisher
Sent: Thursday, July 09, 2015 12:05 PM
To: Betsy Hoylman, Northwestern Mutual
Subject: RE: credit score, #1507h, failure, accountability, phantom writers, I told you that I would look for more

You did not answer my question. As I told you—over and over—my only "concern" (your word, not mine) was the name. I try to stay out of the highfalutin, anonymous weasel-ridden, incoherent debate space and deal only with fact: What is true and what is false-truth and falsity (dot com). Names, titles, dates, figures, mathematical logic-those sorts of things. It is enough for one person (hint).

But I just keep getting dragged into the mishmash of mush. So, let's go with that for now.

A little alliterative litter

The article states, "Follow these top tips for establishing and maintaining good credit from the Consumer Financial Protection Bureau and major credit agencies."

Indeed, top tips–they're special ones. Are you now saying that the U.S. government, major credit agencies or both were not your sources of the (top) tip? If that is the case, did your writers just make it up?

And, regardless of whether they had a source to begin with or could not find a "source" after the fact (which, logically, would make it not a source), is the notion, itself, ethical? Even if the government or credit bureaus (neither far from infallible) said such a thing—that a lender would actually lie to credit bureaus—do you condone the practice?

Is that your organization's sense of morality? Do you lack independent thought?

Do you believe that the banking system is dependent upon fair and accurate credit reporting, and that inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system?

I do.

On, the sentence, "If you do accidentally miss a payment, call the creditor and ask if that information can be kept off your credit report," just disappeared like it never happened. Did you do anything about the copies of it republished at and #SyndicatedError

I'm going to. Join me.

Myth 4

The same article states, "A good rule of thumb is to not exceed 30 percent of your available credit in any given month." #CreditScares

Whose rule of thumb is that, and what magic happens at 30 percent? Is a balance of $3001 on a $10,000 limit significantly different than $3000?

Suppose a person wants to take a vacation that will cost $6000. He has saved enough money to pay for it, but doesn't want to carry cash. In your 30% world, what is he supposed to do-request another $10,000 credit card (or just stay home because he is not qualified for it (or schlep traveler's checks around))?

What's the point of a $10,000 credit line that never exceeds a balance of $3000? #Myth4

It is hard to believe that I have to ask such a silly question. But, somebody has to do so because the situation you are helping to create—with its unfortunate zero barrier of entry—is out of control. The megalomaniacal open-season on credit scores as 'content' for cheap and dirty search engine optimization needs to come to a close–forever. I'm doing everything I can to counteract and make consequences for the utter lunacy that has ended up directly influencing the creation of laws.

I just don't have the mindless minions that you and your ilk have. And, by the way, do you think they even realize that what they linked to was surreptitiously amended under cover of darkness?

Well, I'm turning on the lights.

Having said that, and having followed for years the aftermath of false statements, I understand that human nature is to evade questions (often pretending that the person asking for substantiation does not exist), to answer a question that was not asked, to slink away, and to hope that it will all pass (you get a point for, at least, making a response (such as it is)). Corrections and acknowledgement of errors are a rarity, so the best we can hope for is that the publisher does not publish more things about credit scores (hint).

If no applications for credit are being made, a credit card account can be run up to the limit in any given month and reduced to 30 percent the next, and the effect would be the same as you describe. The so-called credit utilization ratio is only calculated on current balances. So, your anonymous bloggers' 30 percent suggestion is sheer, bloggity gobbledygook.

What are the names of the members of the 2015 Northwestern Mutual Policyowners' Examining Committee (POEC)?

What is your valid physical postal address?

No phone calls.

I'm with the media, I'm writing about your organization, and I am on deadline. The deadline is tomorrow.

Greg Fisher
PO Box 342
Dayton, Ohio 45409-0342

From: Betsy Hoylman, Northwestern Mutual
Sent: Monday, July 13, 2015 4:09 PM
Subject: RE: credit score, #1507h, failure, accountability, phantom writers, I told you that I would look for more


Again, we appreciate you bringing to our attention your concern about the Forbes Brandvoice article. As I explained before, the article was edited following our conversation last week. These articles are prepared by people around the company based on input from our experts and external sources. We try to provide our best advice to consumers through these articles.

Regarding your question about this year's Policyowners' Examining Committee, membership has not yet been announced. Members are usually selected by fall, and their report is included in our Annual Report. Our company's address can be found below.

Thank you again for writing.

Betsy Hoylman | Director- Media & Public Relations

[phone] | [mobile]
[logo] [social media links]

Also, see

The FCRA, and despicable, un-American liars
A message to and request for response from a state in the United States of America #n511

Credit score gibberish, state of New York #n511
#HelloNewYork! Revamp for the Department of Financial Services. Copy-and-paste. Easy-breezy. #DotGov

State of New York