Host Bryn Griffiths welcomes back Nawshad Khadaroo, General Manager of the Credit Institute of Canada (CIC), for a conversation about the fast-changing world of credit and debt collection. Nawshad shares his wealth of experience as a credit professional and non-profit executive, offering a deep dive into how the credit industry—and the Credit Institute itself—has adapted since 2020.

Listeners will hear about how the CIC was uniquely prepared for the pandemic’s challenges, having already embraced virtual learning and meetings before COVID-19 struck. Nawshad highlights the continued importance of agility and innovation in the face of rapid technological advancements, emphasizing the growing role of automation and artificial intelligence (AI) in the credit profession. He advocates for a balanced approach: credit professionals should embrace AI to streamline repetitive tasks, while still prioritizing the human connections and strong communication that are essential for long-term success.

This episode also explores the evolving educational offerings at the CIC, including new executive-level certifications, mentorship programs, and a commitment to intergenerational knowledge sharing. Nawshad discusses the diversity and passion of CIC’s membership, touching on the value of networking and community—evident at their recent symposiums and upcoming centennial celebrations.

Whether you’re new to credit, a seasoned professional, or simply interested in how organizations adapt to disruption, this conversation is packed with practical advice, industry insights, and inspiration for continuous learning and growth.

Episode Highlights:

[00:00:47] How the Credit Institute was prepared for virtual operations before the pandemic, so their transition during COVID-19 accelerated their use of online meetings and course delivery.

[00:02:40] Nawshad emphasizes that continued reflection and adaptability are necessary, especially with disruptions like automation and artificial intelligence transforming the credit industry.

[00:04:25] He highlights that AI assists with repetitive tasks, allowing credit professionals to focus on relationship-building, which remains essential in the industry.

[00:05:29] The Institute has updated its programs to keep pace with industry changes, including introducing a new executive certification to help members stay relevant and advance their careers.

[00:07:23] Nawshad underscores the enduring importance of strong communication skills and human rapport for credit professionals, even as technology evolves.

[00:08:57] He points out that, despite younger generations being comfortable with technology, the personal touch and building rapport are irreplaceable in credit management.

[00:09:33] Adopting new technologies and shifting mindsets are key challenges; using AI can free up time to deepen client relationships and provide advisory support.

[00:10:31] The need for continuous learning to keep up with rapid change, stating he personally stays informed on trends like AI to better adapt.

[00:11:36] How industry events, like their upcoming Jasper conference, offer invaluable opportunities for networking and sharing best practices within the credit community.

[00:12:31] The relationships and networks built at symposia and conferences can last a lifetime and are vital to professional longevity in credit.

[00:13:12] The Credit Institute of Canada, established in 1928, represents and advocates for credit professionals, providing education and raising the industry’s profile.

[00:14:42] Nawshad encourages anyone interested in a credit career to reach out, highlighting the industry’s rewarding nature and the Institute’s support throughout members’ career paths.

[00:16:21] Mentoring across generations is a big part of the Institute’s culture, with senior professionals guiding and coaching younger entrants through programs like CIC Connect.

[00:17:35] The credit world is a complex, interlinked system requiring collaboration between credit managers, agencies, and businesses, all contributing value to the ecosystem.

[00:19:04] How the Institute works to strengthen connections among credit professionals from all types of organizations, facilitating efficient systems and collective progress.

Links:
Canada's Best Collection Agency: www.MetCredit.com
Credit Institute of Canada: https://creditinstitute.org/

Host Bryn Griffiths sits down with Kelly Paisley, President and CEO of The IT Company. With decades of experience in IT, Kelly dives deep into the rapidly changing landscape of artificial intelligence—and what it means for the credit and collections industry.

Kelly explains why AI is not a monster to be feared, but also not a “magic bullet” that can solve every problem. From discussing the importance of planning and data management to demystifying common fears and misconceptions, the conversation offers practical, grounded advice for any business leader contemplating an AI project. Kelly shares candid stories about his own journey adopting AI, what worked, why 90% of AI projects fail, and the vital role of company culture and policy in successful implementation.

Episode highlights:

• The truth about AI’s strengths and limitations in business

• Why rushing into AI without a plan can lead to failure

• The importance of “AI readiness” and data hygiene

• How to create a practical AI use policy for your team

• Real-world examples from the credit and collections industry

• Kelly’s perspective on the human side of tech adoption—overcoming fear and hype

Perfect for business owners, managers, and IT professionals curious (or even skeptical) about AI, this episode is packed with actionable insights to help your organization move forward with confidence.

The IT Company: theitco.ca
MetCredit Blog: blog.metcredit.com

Rhonda Fox-Miles brings nearly five decades of experience to this insightful episode of Overdue Advice, where the conversation zeroes in on the shifting landscape of bankruptcies, consumer proposals, and debt collection in Canada. As a trustee from Fox-Miles and Associates, Rhonda shares her front-line perspective on the gradual rise of insolvencies post-pandemic, challenging the expectation of a financial tsunami and highlighting the nuanced realities businesses and individuals face today.

Rhonda delves into why bankruptcies are increasing only slowly, the lingering impact of pandemic-era collection freezes, and how legislative changes now make remote financial consulting routine. She also unpacks the key differences between bankruptcy and consumer proposals, emphasizing the importance of personal agency, transparency, and early intervention for those struggling with debt. The discussion extends to local versus national trustee preferences, shifting court procedures, and the legal intricacies driven by updates to the Bankruptcy and Insolvency Act.

Throughout the episode, Rhonda emphasizes the deeply human aspects of debt—underscoring the role of unexpected life events, mental health awareness, and the need for honest, constructive financial conversations. With practical advice on budgeting, emergency funds, and negotiation timing, this episode offers listeners a pragmatic roadmap for overcoming financial distress and fostering resilience, both at home and in business.

Key Themes:

• The ‘slow rise’ of corporate and personal bankruptcies post-pandemic

• How updated bankruptcy laws have reshaped trustee and debtor relationships

• Why local expertise still matters in an age of virtual financial services

• The critical difference between bankruptcy and consumer proposals—and who should choose which

• Practical communication and budgeting strategies to reduce money stress

• The rising awareness of mental health considerations in financial recovery

Whether you’re a business owner, a collector, or an individual facing financial headwinds, this episode offers overdue advice and actionable strategies direct from the front lines of Canada’s credit landscape.

Episode Highlights

00:22 – 01:34: Rhonda Fox Miles discusses initial fears of a “tsunami” of insolvencies post-pandemic and explains why a large spike didn’t materialize.

01:45 – 02:09: How Revenue Canada ranks among creditors and the distinction between secured and unsecured corporate taxes.

02:27 – 03:45: The shift to virtual meetings, the importance of local trustees, and how changes from the pandemic continue to impact the process.

04:04 – 05:14: Emphasis on discussing options with debtors early, and why avoidance and waiting until legal action is started usually backfires.

05:16 – 06:22: A glimpse into the hefty and ever-changing Bankruptcy and Insolvency Act and why expertise is so crucial in navigating its layers.

06:32 – 07:56: Rhonda explains forced bankruptcy processes, timelines, and the difficulties that arise when a debtor is uncooperative.

08:13 – 09:01: Despite economic hardships, bankruptcy rates remain stable; why this can actually hold the economy back and how the law is designed to help ‘honest, unfortunate debtors.’

09:24 – 10:13: Why budgeting matters and how unplanned expenses (like coffee habits!) can undermine financial stability.

10:38 – 11:44: Rhonda shares what consistently leads to personal bankruptcy—unexpected life events, not just ‘bad financial behavior.’

12:08 – 13:36: Bankruptcy vs. Consumer Proposal: a practical breakdown of the two options, including control, obligations, and how personal situations dictate the right choice.

13:51 – 14:52: Insights on timing, building trust, and the legal impact once a trustee is involved—especially how all collection actions must stop.

15:02 – 16:07: Rhonda reflects on changing trends since 2015, especially the increased awareness and impact of mental health issues related to debt.

16:40 – 18:12: Rhonda emphasizes her people-first approach—helping individuals and families gain the communication and budgeting skills to manage debt and stress.

18:50 – 20:30: Practical advice on building an emergency fund and the peace of mind it brings when life throws the unexpected your way.