peter rafferty, chief executive officer, futuresoft back to basics

Peter Rafferty, Chief Executive Officer, FutureSoft

Back to basics


The Dodo was aflightless bird thatwent extinct in the 1700s due to its inability to adapt


A wise man adapts to circumstances, as water shapes itself to the vessel that contains it

-- Chinese Proverb


Over-regulationEAOsEAOs Season 2Debt Collectors ActAuthenticated DO’sAffordability


EAO’s Season 1

The University of Stellenboschvs

Flemix & Associated Incorporated


EAO’s Season 2

Western Cape employers are exempt from servicing EAOs issued outside province


Debt Collectors Act

Debt Collectors Amendment Bill 2016


Debt Collectors Act

All lawyers are equal …… but some have to register as debt

collectors


Debt Collectors Act

Common Law In DuplumSection 103

Is there another type?


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;


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?


What over-regulation?


Do we adapt?… or do we die?


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


Use technology to handle the volumes

5 Step Survival Plan


Use soft collection techniquesunless absolutely necessary


Call CentresAffordability

Voice recording


Understand the rules and stick to them



Don’t be greedy



The good guys need to get rid of the bad guys who tarnish our industry



Thank you

peter rafferty, chief executive officer, futuresoft back to basics

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