Stephen Snyder’s credit dispute letter scam

Here is an email Stephen Snyder recently sent out:

Sent: Wednesday, May 16, 2012 1:45 PM
Subject: Magic letters…

Hey ,

Three of the four proven dispute letter packages I’ve been telling you about have already sold out!
There’s only one package left, and it includes six letters:

3 Letters to dispute a bankruptcy
2 Letters to dispute one negative item
1 Letter to dispute multiple negative items

I’m not going to keep them available much longer.
They’re way too valuable to have every Tom, Dick, and Harry have access to them.
It’s to everyone’s benefit that only a small group of people have access to these magic letters.
Get them while you can…
Keep smiling,

At the bottom of the email is an ad with a link to

These letters are available in the following quantities.
Choose one option below

6 letters in PDF format:

Only 3 payments of $39.00
Download your first 2 letters now.
You will receive 2 additional letters in June and 2 more in July (for a total of 6 letters).

One letter each month will be to dispute a bankruptcy, the other letter will be for everything else.

One of the “everything else” letters is made to dispute one item, the other 2 are made to dispute multiple items per letter. 6

15 letters in PDF format:

Only 3 payments of $99.00
Download your first 5 letters now.
You will receive 5 additional letters in June and 5 more in July (for a total of 15 letters).

One letter each month will be to dispute a bankruptcy, the other 4 letters will be for everything else.

Half of the “everything else” letters are made to dispute one item, the other half are made to dispute multiple items per letter.

Stephen Snyder should be JAILED for this fraud, just like Lexington and all the other credit repair outfits who encourage consumers to dispute derogatory items through FRIVOLOUS disputes.

First of all, the credit bureau investigation results are the same no matter what letter you send.

The credit bureaus’ investigation procedures are fully automated and the people who process your dispute letters have just a few seconds to enter a CODE for your dispute and then the CODE (such as “not my account”) is provided to the creditor or the public record is investigated.  Whether any item is deleted or changed depends primarily on the creditor / public record investigation and they never even see your letter.  Occasionally a credit bureau will actually delete or correct obvously incorrect information.

It’s pure CHANCE whether an item will be changed or deleted.

Stephen Snyder does NOT know that having OLD chargeoffs and bankruptcies deleted can SERIOUSLY and PERMANENTLY lower your FICO scores?

I posted on 1/6/04:  TU FICO score with 72% B/L, charge-off — 664, AFTER deletion of the chargeoff: score went DOWN 18 points!

My research has been public knowledge for over 8 year, but Stephen Snyder is STILL CLUELESS!

Stephen Snyder does NOT know that the bankruptcy public record actually INCREASES your FICO scores until the discharged account are old or deleted?

I’ve had clients with one report without the bankruptcy and the FICO scores were significantly LOWER than on the the reports WITH the bankruptcy.

FICO scores really DO give you a fresh start after bankruptcy and all my bk clients had 680+ scores within one year of bk filing as long as they did not reaffirm accounts (potential score killer), did not get NEW derogs, re-established credit, optimized the revolving account balances and most important, did NOT dispute unless RELEVANT INCORRECT data was reported.

Due to class actions, most creditors now CORRECT the reporting after a bankruptcy discharged to reflect the $0 balance and “included in bankruptcy”.

I no longer recommend my Credit Review after the bankruptcy discharge unless a client’s credit is extremely important or the FICO scores are below 620 2 months after discharge or below 660 a year after discharge.

Most people are capable of going through their credit reports a couple of months after the discharge to ensure that the discharged accounts are CORRECTLY reported as such and with a $0 balance.   If there really is an account incorrectly reported with a delinquent balance (it rarely happens anymore), most people are capable of disputing with the credit bureaus:

[account, #] — this account was discharged through bankruptcy

That’s it!  I’m not charging you 3 payments of $39 or one payment of ANYTHING.  This is the ONLY general dispute letter you possibly need after bankruptcy.

While there could be other issues such as reported COLLECTIONS, there is no such thing as a dispute letter that can be downloaded because the dispute has to be SPECIFIC to YOUR situation.  It requires review of the actual credit reporting to determine what to dispute.

MUCH more important than the correctly reported discharged accounts and public record bankruptcies are ACCOUNT HISTORY, positive open accounts and PRE filing planning. 

A little planning goes a LONG way and that’s how people get 700+ scores a year from discharge and I’ve even seen 720+ FICO scores 9 months after discharge.

Of course Stephen Snyder knows all that, he reads my sites and I’ve gotten his legal threats.

Stephen Snyder and the other credit repair scammers know that FICO scores AUTOMATICALLY increase as derogatory items get older.  It’s NOT the deletion of one or two correctly reported discharged accounts that makes scores go up, it’s the TIME that passes since the most recent derogatory item.

It’s incredible to read the credit repair “success stories” from people who disputed for YEARS, while often their scores would be higher if they had done NOTHING.  The most valuable OLD accounts are most likely to be deleted.

I’m sure Stephen Snyder knows that, but it’s a lot more important to him to finance his lavish life style through the exploitation of the ignorant masses than to actually help people.

If you’re still determined to risk LOWERING your FICO scores through FRIVOLOUS disputes, save your money and use the idiotic letters used by Stephen Snyder’s Bradley Ross (shut down by regulators) clients or use the Lexington letters:

Lexington and Bradley Ross Law credit repair fraud EXPOSED!

Why would you PAY to present yourself as a stupid idiot, to possibly PERMANENTLY lower your FICO scores and to be classified by the  credit bureaus as “frivolous / credit repair”, often resulting in their refusal to investigate LEGITIMATE disputes?

If you’re interested in learning more about credit reporting and scoring, please read my submissions to regulators with the description of specific problems:

Why are the regulators REFUSING to enforce the law?

I have stopped wasting my time on submissions to the industry owned FTC and FRB as they could not possibly care less.   I’m currently working on a complaint to the new Consumer Financial Protection Bureau about the MyFICO FICTITIOUS Equifax late payments.  If you’d like to support my regulatory efforts, please  DONATE a few dollars.

7 Responses to Stephen Snyder’s credit dispute letter scam
  1. Tatiana
    May 30, 2012 | 2:59 pm

    Holy crap! Thank goodness hubby and I had an inkling about the Bradley Ross thing when we attended a seminar a couple of years ago.

    However, I have remained on his mailing list and got this email as well. He seemed pretty perturbed with m e when I enlarged his fuzzy photos of the letters, transcribed them, sent them back to him and asked if this was what he was charging hundreds of dollars for. He denied it, saying that those were just dummy letters. Considering there were actual names and addresses, I suspected he was lying. Now I know he was because someone posted a bunch of actual letters from Bradley Ross- they were the same crap!

    I couldn’t understand why he was selling these letters when he was so gung ho on Bradley Ross. After looking over this site, now I understand!!!

    Wanna know the truth? We didn’t trust him too much just because of all his plastic surgery- he was just a little too slick, like most tv evangelists.

    What a slime.

    • Christine
      June 3, 2012 | 12:50 pm

      It’s incredible that Snyder still claims in his advertisement/video for his “deletion” credit dispute letters that he “negotiated” the release of the letters with the Bradley Ross attorney while Snyder actually OWNED Bradley Ross and the attorney was disbarred or disciplined by the Bar for being Snyder’s shill. It’s just amazing how he gets away with these lies.

      I’m glad you picked up on his deceit, few people are capable of seeing past the plastic surgery and slick appearance.

  2. JPO
    June 3, 2012 | 11:00 am

    I’d love to hear Stevo’s reaction to this…probably unprintable.

    People should email him at his latest address:

    I wonder why he keeps changing his email address so often….its probably his 5th in the past 5 months.

    Maybe he’s tired of getting flamed by all his “happy” BKAs and JPOs. LOL LOL

    • Christine
      June 3, 2012 | 12:54 pm

      The fact that Snyder doesn’t respond to the posts here indicate that everything posted here is CORRECT.

      People have emailed him about the posts here and he just ignores them and changes his email address.

  3. JPO
    June 3, 2012 | 4:59 pm

    Right Christine….that tells you all you need to know about this scammer

  4. Master Partner in BKA Program
    June 12, 2012 | 3:56 pm

    There is a new letter which Allen Michael’s sent on behalf of one of the BKA/Jr.Partners that is embarrassing and was returned undeliverable as addressed, 2 strikes against A-M and Stephen. We’ll get is posted but, the content reads as follows: Dear Credit Bureau, Take a good look at what you’ve put on my credit report! How could you? I know that I struggled with my bills in the past, but nothing like a bankruptcy. You must have gone a little crazy or something. Take it off. That’s all I have to say, take it off. NOW.

    The person sending the letter must have gone a little crazy creating it. Do you think this is the content of one of the letters he’s selling in his credit bureau letter package, my belief is YES and if I received this letter in a package, I’d want my money back. This is not something you should have to pay for, all you need to be is just a little crazy (like the letter indicates) to create it.

    I PRAY everyone see’s these posting and NO ONE purchases his letters.

    • Christine
      June 12, 2012 | 5:25 pm

      Unfortunately, many DID buy these letters unless Mr. Snyder lied when he wrote that some packages were “sold out.”

      This is how crazy this letter really is:

      1) As EVERYBODY in the business knows, credit bureaus have STANDARD procedures to investigate disputes.

      They employ extremely low paid people, often in OTHER COUNTRIES, to review your dispute and to initiate the appropriate action. These employees have literally just a few seconds to assign a CODE to the dispute and to forward the code to the creditor or to investigations of public records (since there is no creditor reporting public records such as a bankruptcy.)

      It makes NO difference at all what you write, the credit bureau will code this type of dispute as “not my bankruptcy.” No sob story needed, nobody cares — unless you later have LEGITIMATE disputes and/or you have to SUE. And then these types of letters with FALSE and FRIVOLOUS disputes really bite. There’s nothing like the credit bureaus submitting all these crazy letters to the judge with their motion to dismiss.

      ANY dispute can result in deletion because somebody makes a mistake, doesn’t respond on time, etc. There’s simply no need to make yourself look stupid.

      2) If the bankruptcy is deleted, the FICO scores can be SIGNIFICANTLY LOWERED if you have discharged accounts and collections on the report.

      MyFICO really does give bk filers with REPORTED bankruptcies a FRESH START by increasing the FICO scores by 50 points or more as soon as all delinquent accounts are reported with a $0 balance and as discharged.

      Why would anyone dispute the bankruptcy unless all the derogatory accounts are OLD or already DELETED?

      I hope you’ll scan and post this Allen Michael letter and please post the link here or send it to me for posting.

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