Stephen Snyder filed for bankruptcy AGAIN!

Several readers emailed or posted the link to the article in the Indianapolis Business Journal Area couple’s bankruptcy filing lists $18.5M in debt.

Bradley Stephen Snyder of Nashville and Michelle Lenee Snyder of Fishers filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Indianapolis on July 16.

Court documents show the Snyders operated several businesses, including Bellwether Inc. and AM Publishing Inc., at 9102 Fallview Drive in Fishers. Debt attributed to Bellwether is listed at more than $3.6 million, which includes a $1.6 million loan backed by the U.S. Small Business Administration, the court filing said.

Court records show Snyder also operates or has operated other businesses on Fallview Drive, and at Keystone Crossing and Woodfield Crossing in Indianapolis. The businesses include such names as Chapter 20 Publishing Inc., Consumer Disclosure Mortgage Inc. and Life After Bankruptcy Inc. …” [emphasis added]

Note the “Bradley” in Bradley Ross, Snyder’s HUGE credit repair scam, resulting in disciplinary action against the lawyer he had hired and the subsequent shutdown of Bradley Ross.  According to my sources, Bellwether was the company involved with Bradley Ross and other activities during that time. Much more info and links to documentation of Snyder’s scams are at Stephen Snyder Seminars, Bankruptcy Advisor and Junior Partner scam.

What bothers me most about Snyder is that he never disclosed his ownership and affiliation with the companies he recommended at his seminars and in his newsletters. 

Here is the link to the page with the lawsuits against Snyder referred to in the article:

Stephen Snyder divorce, bankruptcy, foreclosure and multiple collection suits

So apparently Snyder’s 2010 bankruptcy was dismissed and now he refiled.

That’s bad news for all the people who bought into the BK Advisor / JPO scam.  Unless they can prove FRAUD, their claims are probably NOT dischargeable.  If anybody wants to get the bankruptcy filing documents available online at the bankruptcy court site I’ll be glad to post them.  It would be a valuable resource for pro se filers.

Amazingly, I still get the occasional email or comment from truly naive Snyder devotees telling me what a wonderful person Snyder is and that he never charged them for anything and helped them so much.  They just don’t get that SNYDER got the payments to Bradley Ross and that he got PAID by the lenders he recommended at seminars.   Snyder knows that there are many gullible people who admire his looks and lavish lifestyle and they want to be just like him.

You can lead a horse to water, but you can’t make it drink!

18 Responses to Stephen Snyder filed for bankruptcy AGAIN!
  1. JPO
    July 23, 2012 | 2:33 pm

    Won’t this make an interesting addition to the Amazon book review covering getting a mortgage after bankruptcy. I hope Stevo follows all his tips and tricks.

  2. JPO
    July 24, 2012 | 2:18 pm

    Does anyone know where i can get a Happy BK card for Stevo. He declares BK so often that I’m sure he considers it like his birthday since he gets the gift of being debt free and the thrill of ripping-off his JPOs and BKAs

  3. Leigh Stevens
    July 25, 2012 | 2:59 pm

    Always thought this guy was a fraud. Attended his LAB seminar in 2006. His “good looks” and lifestyle were my first clue that something was amiss. Plus, he was not physically at the seminar, we got to meet him via video. Enrolled in the Bradley Ross program, slept on it, then dis-enrolled the next morning. Still get his emails. I now know why he really filed BK again. He’s supposedly retiring. I’m certain this isn’t the last of him. Unless he’s going to prison.

    • Christine
      July 25, 2012 | 8:27 pm

      Wish everybody had a sense for scammers as you do.

      I read Snyder’s email about his retirement.

      How do you retire right after you file for bankruptcy?

      Wouldn’t we all like to do that?

      Does he have that much cash stashed away in retirement funds that can’t be touched by the trustee? After all, he’s not the kind of guy who could live happily on few hundred dollars/month.

      Or is he hiding assets from the trustee?

      Did his previous (I think 2010) bankruptcy get dismissed because he transferred assets not long enough prior to filing? Why did he refile?

      FYI, his email stated that he filed for bankruptcy for the 2nd time, but that’s not true. It’s at least the 3rd time.

      I agree with you that Snyder will continue to do “something”, but it may be in s totally different field as just about everybody researching him on the web can read that he is by no means the expert he claims to be and many people publicly posted that he ripped them off.

  4. Tammy
    July 31, 2012 | 3:15 pm

    Like many other on this post I too attended a Stephen Snyder seminar a couple of years ago. I did not purchase anything during or after the seminar because like most bankrupt people I do not have much money and the money I have is all accounted for (I’m in a chapter 13). At that time, I felt that he was some kind of con artist but I was so new to the whole bankruptcy way of life, I continued to receive his emails and I listened to a couple of his conference calls. None of the information he shared benefitted me because he seems to only “know” about Chapter 7 bankruptcies. Late last year, I unsubscribed to his emails because they were worthless and he seemed to always be asking for money.

    Yesterday I received an email from him (after I unsubscribed almost 9 months ago) stating he had filed for bankruptcy again. How would follow a fool like that? The email included a survey monkey link if I wanted to receive more emails from him. I declined. Today I received yet another email from him stating that he is retiring! I guess con artists can retire too? However I have one question, in his most recent bankruptcy filing, he lists a home in Florida. Isn’t this the same home that he raved about successfully giving back to the bank without paying a dime or having any negative reporting to the credit reporting agencies? He was selling his “secret” to getting rid of a house without any harm to you. I guess that was another scam too???

    • Christine
      July 31, 2012 | 3:29 pm

      Thank you very much for posting. I did not know that he raved about giving his FL house back to the lender and without any negative credit reporting. I assume that this is the same home. And his credit must have been SHOT for quite a few years because he has been sued and actually filed for bankruptcy in 2010.

      I can’t wait to find out how he can file for Ch. 7 and retire at the same time.

  5. BKA PARTNER
    August 3, 2012 | 6:07 pm

    Stephen Snyder is the type of person you need to run far away from and this is a lesson I learned a little to late, but a valuable lesson. I appreciate this website more than I can express, because it offers the honest people Stephen took money from for this BK/Jr.Partner to be able to share what a fake and fraud he is and how deceptive his business practices really are. Yes RAVED about how he did a strategic default with the house in FL and the bank paid him a 6-figure number to leave the house, now isn’t that a hoot of a lie as well. I hope everyone reads this and continue to post their comments. I know I will. Thanks Christine.

  6. JPO
    August 5, 2012 | 4:44 am

    And now old Stevo announces his retirement. But is he really retiring?

    Of course not! Just a bit ago he began putting paperback books up on Amazon (didn’t he stall the BKAs and JPOs by saying only hardcover books would work?). Then the following from Stephen gets posted on the web.

    “Hi everyone,

    Yesterday I promised you seven BIG announcements.

    The second announcement is…

    I am retiring.

    I’ve invested nearly 15 years helping you get back on the right path, increase your scores, and avoid high interest lenders.

    And now it’s time to move on to do something new.

    So I’m retiring from my crazy schedule.

    Well, more like semi-retiring…

    I have a few loose-ends to finish.

    I’m currently conducting a class for Chapter 13s and another class for advanced students. These should conclude in the next two months.

    I also want to focus on my own recovery.

    My goal is to get back to 700+ scores in 12 months!

    If you missed my first big announcement, click on the link to the right.

    And of course, I have a strong desire to finish my BK Advisor and Junior Partner programs.

    If you’re not familiar with these, its where my successful students become licensed to educate people in their local area, using my materials.

    It’s a perfect fit now that I am semi-retiring!

    I also say semi-retiring because I may have one more product in me.

    It would be my last, one that would outlive me, and probably the most important I’ve ever developed.

    More on that later…

    Right now, I want to thank you for supporting me all these years.

    I hope in some small way I helped you recover from your financial crisis and gave you hope.

    I’m looking forward to a more relaxed schedule and doing something new.

    The next five big announcements are coming soon.”

    So now the BKAs and JPOs become “become licensed to educate people”? Is that like school Teachers. Stevo thinks he has the power of a state government.

    The part that really made me laugh and should be taken very literally is:

    “I want to thank you for supporting me all these years”

    We absolutely foolishly supported this slime ball financially and here he is waving it in our collective faces.

    I signed up to hear more from the slug. And Stevo, if you are listening, I will be posting whatever I receive from the retired/no so retired scammer.

  7. Tina
    August 15, 2012 | 10:28 am

    This man is never gonna stop! I just got ANOTHER email from him going on and on about how he’s going to detail his Phoenix-like rise from the ashes of this bankruptcy and we can all follow along- for the low, low subscription rate of 39.00 a month!!!!

    I’m going to puke!

    • Christine
      August 15, 2012 | 12:36 pm

      That’s his retirement plan, more sucker money!

      Been extremely busy, but I will make time for a new post on Snyder’s books and how he plans to fund his retirement.

  8. Davis
    August 20, 2012 | 2:33 pm

    BAIT AND SWITCH!!! You really need to write a new article about this scumbag! All this new news and this site has not been updated?!?

    Here’s the email he just sent:

    What do Michael Jordan and I have in common?

    We both changed our minds about retirement. It’s true! I’ve changed my mind about semi-retiring.

    Now that I’ve filed bankruptcy again, I have a lot of new ideas that I want to share with you that can help you even more than I have in the past.

    Stay tuned…new stuff is coming soon!

    • Christine
      August 20, 2012 | 7:59 pm

      “All this new news and this site has not been updated?!?”

      A number of people have posted updates and I just haven’t had time. Sorry!

    • Christine
      August 20, 2012 | 7:59 pm

      “All this new news and this site has not been updated?!?”

      A number of people have posted updates and I just haven’t had time. Sorry!

  9. JPO
    August 20, 2012 | 5:44 pm

    Yep Stevo has proved a cat doesn’t change his stripes……and a liar will always be a liar.

    Now he’s NOT retiring. But what’s even more ridiculous…..his delusional little self thinks he’s just like Michael Jordan.

    Hey Stevo…..you gonna come out with an overpriced pair of sneakers too?

    What a chump!

  10. Shenita
    September 8, 2012 | 10:00 am

    I need to find out where I can a debt consolidation loan, even though I have bad credit due to some unforeseen situation in life. Has anyone gone through this and who do you recommend? What about filing for bankruptcy – Before the debts are discharged? how long does that take discharged? I owe a Bank about $1950 and their policy is they do not negotiate at all or accept any payment arrangements. I do not have any money so they are going to send it to collections. I have never had to deal with collections agencies before. Is anybody familiar with them and could offer advice to me on dealing with them? them? Will they take a payment arrangement of a specific dollar amount monthly? Also the bank is charging me interest. Can I simply pay the debt amount without interest in collections? Need advice on I that can be helped by a good debt consolidation company!? Hello, I am in a lot of credit card debt, around $ 40, 000, and was wondering if someone knows of a good reputable debt consolidation company that can help me? me? Any advice on getting rid of credit card debt with a low paying salary? I am 3yrs behind on tax. I have been paying some off with what I can spare. But just recently i could not pay anything because of my partner changing job with a low pay. What shall we do about this? And also got a letters saying that will enter my house and take some things. Anyone having experience in settling credit card debt please send any advice you have? I currently have $30,000.00 plus credit card debt and would like to settle and pay them off in the next month. I will have a lump sum to work with and am hoping they will accept 50 to 75 cents on the dollar. I work on commission only and have medical problems. Because of my health, not knowing how much longer I can work with my state, I can not consolidate and make monthly payments. My plan would work best for all. I just need some advice on how to communicate best with the creditors. What are the benefits of doing debt consolidation instead of bankruptcy? It is true that bankruptcy is going to show on my credit for the rest of my life? They are asking for $600 for a monthly payment and I cant do that amount. What can I do? I do not need to do bankruptcy. I have been looking here for information http://www.bankruptcy[xxxxxxxx].co.uk [link edited to prevent advertisements] but it can not answer all my questions

    • Christine
      September 8, 2012 | 2:16 pm

      There is no such thing as a “reputable” debt consolidation company. Since you’re looking at a British site for advise, I assume that you live in Britain and this site is primarily geared towards America. Even in America laws pertaining to what SECURED creditors can do and whether they can enter your house depends on STATE law.

      In the US, a Chapter 13 (payments) is reported on the credit for 7 years and a Chapter 7 (discharge) for 10 years from the date of filing.

  11. Oh My
    October 9, 2012 | 6:08 pm

    Look at the tail end of the article closer. If he is keeping “the Florida” home – it is only because of the Homestead law there – it would be the one with the most equity. The article states there is a 5.4 mil mortgage on the Florida house. Real estate taxes owed on the Florida home total $132,271. Fees owed to a neighborhood homeowners association are listed at $43,068. But their total assets are only $176,591. Sure they are?

    Isn’t the house he also claims he was able to get the bank to forgive his loan AND keep the house??? And Florida bk law allow unlimited exemption for your “Homestead”. Interesting….

    Oh My!

    • Christine
      October 9, 2012 | 11:27 pm

      Excellent points! But I don’t think FL homestead law applies to Indiana bankruptcies.

      If Snyder really wants to keep that house, I can see why he needs to sell all these useless courses and scams like watching him get a 750 FICO score — which is not going to be happening for at least several years, if ever. I find it hard to believe that there are so many suckers out there, but I suppose that’s why they say a sucker is born every second.

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