Peter Rafferty, Chief Executive Officer, FutureSoft Back to basics

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