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We help people resolve debt.
Key people at Solo.
Solo was founded in 2018 by George Simons (Founder).
Solo, formerly SoloSuit, helps Americans resolve debt. People use our first product, SoloSuit to respond to debt lawsuits and create other legal documents. Then they use SoloSettle to connect with the collector and settle the debt. We're targeting the $35B debt resolution market.
Key people at Solo.
Solo is a fintech and legaltech company that helps consumers and debt collectors resolve debt disputes efficiently through technology. It offers two main products: SoloSuit, which automates the generation of legal responses to debt collection lawsuits to help consumers avoid default judgments, and SoloSettle, an AI-powered digital platform that facilitates direct negotiation and settlement between consumers and collectors. Solo serves millions of Americans facing debt lawsuits, simplifying and accelerating the resolution process, and has helped manage over $1.69 billion in debt since its 2018 launch. By bridging the gap between debtors and collectors, Solo reduces the administrative burden on collectors and improves outcomes for both parties, turning adversarial debt collection into a collaborative process[1][2][3][4].
Founded in 2018 by George Simons, a JD/MBA graduate from BYU, Solo (originally SoloSuit) emerged from the need to close the justice gap for consumers overwhelmed by debt lawsuits. Simons recognized that many consumers fail to respond to debt lawsuits due to complexity and fear, resulting in default judgments. SoloSuit was created to empower these consumers with personalized legal documents and attorney review. Over time, the company expanded its focus to include SoloSettle, a settlement platform that streamlines negotiations digitally. The company has evolved from a legal document tool into a comprehensive debt resolution platform, supported by industry experts like Yale Levy, former president of the National Creditors Bar Association, who brings a collector’s perspective to improve settlement processes[1][2][3][4][5].
Solo rides the growing trend of digitizing and automating legal and financial services, particularly in the underserved debt resolution market, which faces record-high US household debt levels ($17.94 trillion as of Q3 2024). The timing is critical as millions of Americans face debt lawsuits annually, and traditional collection methods are costly, slow, and adversarial. Solo’s platform leverages AI and digital negotiation to reduce friction, improve compliance, and accelerate resolutions, contributing to financial stability for consumers and collectors alike. By transforming debt collection into a collaborative, technology-driven process, Solo influences the broader fintech and legaltech ecosystems, promoting fairness and efficiency in consumer finance[1][3][5].
Solo is positioned to expand its impact by deepening adoption among debt collectors and consumers, leveraging AI advancements and verified data to further streamline and personalize debt resolution. As regulatory scrutiny on debt collection intensifies, Solo’s compliant, transparent platform will likely become more attractive to industry players seeking efficient, consumer-friendly solutions. Future trends shaping Solo’s journey include increased digital legal services adoption, AI-driven financial tools, and a growing emphasis on consumer financial health. Solo’s evolution from a legal document generator to a full-stack debt resolution platform signals its potential to reshape how debt disputes are resolved in the US, making the process faster, fairer, and less stressful for all parties involved[1][3][5].
Solo was founded in 2018 by George Simons (Founder).