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CreditorWatch Roundtable Recap

CreditorWatch recently held it’s 5th annual roundtables in Melbourne and Sydney. The roundtables are not in place to sell CreditorWatch, but rather to provide an opportunity for guests to connect, learn and have valuable discussions with industry colleagues and government representatives.

The events began with an introduction from Colin Porter, Founder of CreditorWatch. Colin provided the guests with a warm welcome and a glimpse as to where CreditorWatch currently sits with data, how much the company has achieved and where it is heading. Some of the achievements included successfully lobbying AFSA in order to bring customers the latest Bankruptcy Plus product and reaching over 50,000 customers in just 7 years. Colin provided a preview to the 8th year milestone which will be announced soon.

Patrick Coghlan, Managing Director and one of the founding employees of CreditorWatch, was next to take the stage. Patrick provided a preview of the newest products which will be launched in June, including the ability to register on the PPSR and order international reports. Most importantly, Patrick highlighted how CreditorWatch came about and that the company pushes the mentality of creating products that clients have asked for and therefore, doing things differently. “The journey to creating the product is what we are fostering and the aim is to create products that the industry has never seen before,“ Patrick explained.

The next guest speakers were from AFSA. David Bergman spoke in Melbourne and Paul Shaw spoke in Sydney. Some of the topics highlighted included PPSR and the importance of correct registrations being made, as well as the personal insolvency system and how debt agreements have increased and bankruptcies have declined. However, there is some concern that debt agreements are being issued too easily, particularly by credit repair businesses. There is a belief that individuals who sought financial advice weren’t really looking for a debt agreement as such nor do they completely understand them. “We, as a regulator, are concerned if they are getting the best personal solution,” commented Paul Shaw, AFSA. A reduced one-year bankruptcy period was also discussed and it will be up to parliament to decide soon.

Finally, Matthew Hudson, Founder of SV Voidables (a subsidiary of SV Partners), provided an engaging presentation on the PPSA and protection from unfair claims. The presentation included discussion about PPSR, unfair preferences and the PMSI. Matt provided a case study about how a PMSI may not protect you and why you shouldn’t solely rely on them. The presentation also included tips to protect your company against unfair preferences.

Overall, the roundtables for the first half of the year were a success and attendees walked away with valuable insights. CreditorWatch will be aiming to run more roundtables in the second half of the year.

If you have any questions or would like more information on the presentations please contact CreditorWatch.