Here is an email Stephen Snyder recently sent out:
Sent: Wednesday, May 16, 2012 1:45 PM
Subject: Magic letters…
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…
At the bottom of the email is an ad with a link to https://www.stephensnyder.com/eStore/dispute-letters/choose.php:
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?
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:
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:
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.