SoloSuit

13 statements across 1 episodes · 5 bullish · 2 bearish · 1 people on the record · first statement Dec 14, 2021 by George Simons · said 24 times in 1 episodes since 2021 · across every show →

Mentions by year

brought up most by Nathan Latka (14), George Simons (10)

tap a year for its mentions
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2021 24 mentions in 1 episode

every mention, scene by scene, with the transcript →

Everything said about SoloSuit, oldest first

Dec 14, 2021 positive
Assertion Not checkable as stated
Simons: SoloSuit currently serves approximately 400 paying customers per month
“Like currently we help, like, 400 paying customers a month.”
George Simons Dec 14, 2021 ▶ 5:35 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 positive
Assertion Not checkable as stated
Simons: Over 60% of SoloSuit customers have debt collection cases dismissed
“Around like 60%, even more of the time, Customers cases get dismissed, and they actually win their case just by filing an answer.”
George Simons Dec 14, 2021 ▶ 2:52 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 positive
Assertion Not checkable as stated
Simons: SoloSuit has protected over $100 million from credit card debt losses
“At the moment, we've done over, we've helped over 22,000 people, and we've helped protect over a hundred million dollars from credit card debt losses.”
George Simons Dec 14, 2021 ▶ 4:37 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Disclosure
Simons: SoloSuit charges a flat $197 fee to review and file responses
“Currently we just have a flat, flat rate business model. Price is subject to change, but right now it's, they pay us a 197 dollars.”
George Simons Dec 14, 2021 ▶ 3:15 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Assertion Not checkable as stated
Simons: SoloSuit operates its growing legal tech business with just six people
“We're just a team of six.”
George Simons Dec 14, 2021 ▶ 9:35 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Assertion Contradicted
Simons: Half of debt defendants claim they are sued for unowned debt
“According to Consumer Financial Protection Bureau, about 50% of people that are sued for debt say they're being sued for debt they don't owe.”
George Simons Dec 14, 2021 ▶ 18:44 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 positive
Assertion Not checkable as stated
Simons: Nearly 100% of SoloSuit customer acquisition comes from organic search
“Nearly a hundred percent of our customers come to us from SEO focus on ranking first on Google search and YouTube search.”
George Simons Dec 14, 2021 ▶ 7:08 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 bullish
Assertion Not checkable as stated
Simons: SoloSuit is the first platform to automate nationwide court filings
“What we're doing is we are according to my knowledge, like the first and only company that is compiling like a software stack that allows us to calculate the Filing information for different courts and then to file on those courts.”
George Simons Dec 14, 2021 ▶ 15:48 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Assertion Partly supported
Simons: 10M Americans are sued for debt annually; 9M lose by default
“Ten million people are sued for debt every year in the US. Nine million of them automatically lose their case because they can't figure out how to respond.”
George Simons Dec 14, 2021 ▶ 1:45 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Disclosure
Simons: SoloSuit has raised less than $1 million in total funding
“Oh, we've raised less than a million so far.”
George Simons Dec 14, 2021 ▶ 12:35 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 negative
Insight
Simons: SoloSuit pivoted because users struggled to file generated documents themselves
“People, even once they generated their document on our site, a lot of people didn't file because it was just too hard to file a document in court.”
George Simons Dec 14, 2021 ▶ 3:56 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021
Assertion Not checkable as stated
Simons: The average SoloSuit user faces $4,700 in credit card debt
“Our average is actually 4700 dollars.”
George Simons Dec 14, 2021 ▶ 2:14 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
Dec 14, 2021 negative
Opinion
Simons: Recurring revenue is overrated; transactional lawsuit volume is highly predictable
“We think recurring revenue is a little bit overrated. And our revenue, I think is very predictable. People are getting sued at the same rate every month. They have been for decades. So we consider our revenue to be very predictable, even though it isn't techni…”
George Simons Dec 14, 2021 ▶ 6:22 SoloSuit Makes $80k/mo Helping Consumers Fight Bank Debt Collectors
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