Peter Rafferty, Chief Executive Officer, FutureSoft
Back to basics
Peter Rafferty, Chief Executive Officer, FutureSoft
The Dodo was aflightless bird thatwent extinct in the 1700s due to its inability to adapt
Peter Rafferty, Chief Executive Officer, FutureSoft
A wise man adapts to circumstances, as water shapes itself to the vessel that contains it
-- Chinese Proverb
Peter Rafferty, Chief Executive Officer, FutureSoft
Over-regulationEAOsEAOs Season 2Debt Collectors ActAuthenticated DO’sAffordability
Peter Rafferty, Chief Executive Officer, FutureSoft
EAO’s Season 1
The University of Stellenboschvs
Flemix & Associated Incorporated
Peter Rafferty, Chief Executive Officer, FutureSoft
EAO’s Season 2
Western Cape employers are exempt from servicing EAOs issued outside province
Peter Rafferty, Chief Executive Officer, FutureSoft
Debt Collectors Act
Debt Collectors Amendment Bill 2016
Peter Rafferty, Chief Executive Officer, FutureSoft
Debt Collectors Act
All lawyers are equal …… but some have to register as debt
collectors
Peter Rafferty, Chief Executive Officer, FutureSoft
Debt Collectors Act
Common Law In DuplumSection 103
Is there another type?
Peter Rafferty, Chief Executive Officer, FutureSoft
Debt Collectors Act15. (1) A debt collector may be found guilty of improper conduct if he or she, or a person for whom he or she is vicariously liable -
(g) charges collection costs, an initiation fee, service fee, default administration charges or other charges which exceed the unpaid balance of the principal debt at the time of default;
Peter Rafferty, Chief Executive Officer, FutureSoft
Debt Collectors Act
What fees are lawyers allowed to charge?How is the Credit Provider’s relationship with the attorney affected?Does the proposed Bill cover collections that originate from delictual actions?
Peter Rafferty, Chief Executive Officer, FutureSoft
What over-regulation?
Peter Rafferty, Chief Executive Officer, FutureSoft
Do we adapt?… or do we die?
Peter Rafferty, Chief Executive Officer, FutureSoft
I prefer to adapt
“The trademarked and copyrighted Rafferty Five-step Survival Plan for the debt collection and recovery industry, aimed at adaption of the unadaptable in a time where adaption is required”
Short name: 5 Step Survival Plan
Peter Rafferty, Chief Executive Officer, FutureSoft
Use technology to handle the volumes
5 Step Survival Plan
Peter Rafferty, Chief Executive Officer, FutureSoft
Use soft collection techniquesunless absolutely necessary
5 Step Survival Plan
Call CentresAffordability
Voice recording
Peter Rafferty, Chief Executive Officer, FutureSoft
Understand the rules and stick to them
5 Step Survival Plan
Peter Rafferty, Chief Executive Officer, FutureSoft
Don’t be greedy
5 Step Survival Plan
Peter Rafferty, Chief Executive Officer, FutureSoft
The good guys need to get rid of the bad guys who tarnish our industry
5 Step Survival Plan
Peter Rafferty, Chief Executive Officer, FutureSoft
Thank you