SoloSuit, a leading startup in the legal-tech space, has announced the addition of attorney Yale R. Levy as Director of Client Development. Levy joined the company to lead the expansion of its groundbreaking settlement portal, SoloSettle. His primary focus is establishing and maintaining strategic partnerships with law firms, collection agencies, and creditors.
In order to better serve consumers, SoloSuit is partnering with collectors and creditors to increase settlement rates, since reaching an amicable settlement is usually the ideal outcome for all parties involved. SoloSettle acts as a neutral and trusted mediator between collectors and consumers, and has partnered with many law firms already. Levy’s extensive background and experience in the collections industry qualify him to catalyze this shift.
In addition to over two decades of working in debt collections and creditor rights, Levy’s background in leading large-scale collection efforts and understanding of the legal and operational aspects of collectors make him a perfect fit to guide SoloSuit’s next chapter.
Levy began his professional career after graduating Magna Cum Laude from Indiana University, Bloomington, where he earned a degree in Accounting. He later earned a law degree from The Ohio State University, after which he started his own law firm with a classmate. Throughout his entire career, Levy focused on retail, commercial, and medical collections, and even worked briefly as a debt buyer. In 2006, Levy founded Levy & Associates, LLC, a debt collection law firm. With the help of many others, his firm grew from a three-person team to a major player in the legal debt collection industry, with over 100 employees and operating in five states and the District of Columbia.
“Bringing Yale on board propels our mission forward. We’ve listened to both collectors and consumers, and they have made it clear that working together benefits everyone. We’re excited for Yale to lead this next phase of our growth, especially as we expand SoloSettle to reach every sector of the debt collection arena,” George Simons, CEO of SoloSuit, remarks.
Levy shares the same excitement: “I’m thrilled to be part of a cutting-edge tech company and to lead SoloSettle’s growth trajectory. I’ve spent my career working in collections, so I understand the frustrations of collectors. What excites me the most about SoloSettle is that it provides a way for both consumers and collectors to resolve debts quickly and harmoniously. It’s such a game-changer for the industry, and I am honored to contribute to building the bridges that would improve everyone’s experience.”
While working in traditional debt collection, Levy witnessed the lack of communication and engagement from consumers. He realized that many consumers were overwhelmed by fear or uncertainty, leading to drawn-out legal processes that could have been avoided if the consumer had just communicated with the collector.
Levy knew that better communication options would create win-win situations for both consumers and collectors. This understanding makes Levy such a significant addition to SoloSuit. Within weeks of joining the company, he successfully secured partnerships with several large debt-collection law firms. These firms are now utilizing the SoloSettle platform to negotiate settlements with consumers, instead of engaging in protracted litigation that typically occurs.
SoloSettle’s state-of-the-art settlement portal helps collectors and consumers settle debts efficiently and amicably. It provides an AI-powered, frictionless platform that facilitates electronic communication among stakeholders to ensure faster settlements, reduced costs, and a more transparent negotiation process. SoloSettle is building towards a vision where collectors and consumers can settle instantly.
SoloSettle is not a debt settlement company nor does it provide consumers with legal advice; rather, it offers a revolutionary web-based digital portal that helps consumers negotiate settlements without having to step inside a courthouse, hire an attorney, or talk to a collector or lawyer over the phone. With this self-represented tool, consumers can engage in settlement discussions on equal footing with experienced collectors.
Collectors also benefit from SoloSettle. The platform improves engagement, especially for younger consumers, and increases the liquidation rate by enabling collectors to resolve debts more quickly. This means they no longer need to rely on time-consuming skip tracing or costly legal processes. SoloSettle cuts the time to settlement from months to days, ensuring both parties can reach an agreement without unnecessary delays.
SoloSettle’s process for collectors is simple: consumers log in, enter basic details about their debt, and submit a settlement offer to the collector. The platform converts their input into a settlement offer, which the collector can accept or counter. This exchange continues until both parties reach an agreement. Once settled, the collector only needs to provide the payment details and a settlement agreement, which the platform helps finalize and the consumer signs. Finally, consumers make secure payments directly through the app, and the collector receives it without any fees. Essentially, this process saves time and reduces collection costs.
SoloSettle is bound to revolutionize the debt settlement landscape. With Yale Levy’s leadership, the platform is set for sustainable growth. Collectors can look forward to a more seamless debt settlement process, while consumers find comfort in resolving their debts without ever having to talk to a collector on the phone.
