LITs are trained debt relief advisors licensed by the Government of Canada. To help people understand their financial problems and provide options to resolve their debt. LITs offer these consultations for free.

At Frederick & Company, we understand the distress, worry, and uncertainty that comes with financial problems. We are a boutique firm headed by Rebecca Frederick, a CIRP-designated Licensed Insolvency Trustee (LIT), and we believe in the empowerment and education of everyone that we have the pleasure to interact with.

Meet Rebecca.

Rebecca is passionate about educating the public on consumer insolvency matters and healthy financial habits. Rebecca is an advocate for financial education and serves as the President of the Alberta Association of Restructuring Professionals (AAIRP) in service to her profession.

Rebecca is also the wife of a hard-working accountant, mother of three kids and partner to her quarter horse Rey.

What is a Licensed Insolvency Trustee (LIT) and what do they do?

LITs are trained debt relief advisors licensed by the Government of Canada. Their foremost function is to help people understand their financial problems and provide a fulsome discussion around their options to resolve their debt. LITs offer these consultations for free. Among the options available the most potent debt-relief tools available in Canada are bankruptcies and consumer proposals. In Canada, only LITs are legally allowed to administer these two debt-relief options. If you decide to file a bankruptcy or a proposal, you can think of LITs as the referee: it is a LIT’s duty is to make sure the insolvency process is fair, open and honest process for the debtor and the creditors.

Meet Jessa.

Jessa was born in Edmonton and raised in St. Albert. Jessa is a relatively new member of our team. She began her career in insolvency at Frederick & Company Ltd in September 2018. 

Jessa has also shown genuine care for putting others and the environment before herself and has really found it rewarding being able to use her resiliency, and her work ethic to help her teammates make a difference in the lives of those who are in need.

When Jessa isn’t out trying to make the world a better place, she can be found face-first into a large cup of coffee, a giant Slurpee, or across the world diving into one of her latest books.

She can also be found at home enjoying time with family, friends, her dog, and two cats.

Meet Ada.

Ada has called Sherwood Park her home for longer than she can remember. She enjoys being a part of this strong and growing community and instantly felt at home here.

Ada has been with Frederick and Company since 2018, and has enjoyed helping wherever she can, especially with banking and budgeting.

When not at the office, Ada loves spending time with her husband and three energetic kids and getting her hands dirty in one of her many gardening projects.  In the winter, you’ll find her at the rink, watching hockey, with a hot coffee in hand.

Meet Rodney.

Rodney is originally from Nova Scotia and brings his friendly, accepting, Maritimer attitude with him wherever he goes.

Rodney joined Frederick and Company Ltd. in 2019. Growing as a member of the team and as an insolvency administrator has been a life-changing experience. He takes pride in doing his part to protect the insolvency system that’s designed to be fair for everyone involved.

When he’s not hard at work here at Frederick and Company Ltd. he can be found on trails and walking paths either on a bike or on foot enjoying the sunshine as much as he can in the summer; in the winter, he can be found huddled next to a warm fire, waiting for summer to come around again.

What are the requirements to become a Licensed Insolvency Trustee?

To become a trustee in Canada, individuals must undergo a stringent education program (including practical experience in debt management) lasting at least 3 years, sometimes more. In addition, they must pass a difficult oral board examination which has a pass rate of which is generally 50%. In addition to being a LIT, Rebecca is also a Chartered Insolvency and Restructuring Professional (CIRP). A CIRP-designated LIT must keep their knowledge and skills current by completing a minimum of 20 hours of professional development each year, abide by the highest standards of the profession (bylaws, standards and rules of conduct), and adhere to the rules and regulations of the Bankruptcy and Insolvency Act and the Companies Creditors Arrangement Act. In short, LITs are well educated and well position to help you understand your responsibilities and your options for moving forward.

Meet Karen.

Karen brings years of knowledge and experience to the team. She is incredibly caring and it shows whenever she meets with individuals who have been struggling.

Karen received her designation as an Industrial Commercial Institutional Accountant (ICIA) in 2004 and her National Credit Counselling Certificate in 2005. In 2013 she received her Insolvency Administration Certificate.

Prior to her work in insolvency, Karen was employed with an accounting firm where she was involved in preparing year ends for corporations, corporate and individual taxes, and organizational tasks within the organization. In 2007 she took over a mid-sized business with her family and has been hard at work ever since.

Meet Stanley.

Born and raised in Edmonton by two wonderful and hard-working Chinese immigrants, Stanley was instilled from a young age the value of compassion, hard work, and education.

The mix of a supportive culture, a shared vision, and challenging work at Frederick & Company has lent itself to a constant adventure and continued professional growth. As a believer in caring for mental health, Stanley relishes any opportunity to help someone, no matter how small.

His role at Frederick & Company has given him the chance to do just that. In his spare time, he enjoys practicing classical music on his digital piano, challenging himself on hikes, and eating his favorite food, sushi.

Meet Ryan.

Ryan was born and raised here in Edmonton, AB. He joined the Frederick & Company Ltd team in April 2021 and has loved every minute of this exciting new career path.

Ryan is a third-year finance student at NAIT who loves learning about the different ways he is able to help people in financial trouble. As an insolvency administrator, he has been able to gain experience in educating clients on the processes of insolvency and how they can benefit from it.

When Ryan isn’t at work or school, he is outside enjoying the weather through various sports. In the summer you can find him golfing or camping and in the winter you can find him on a mountain somewhere.

How are we different than “debt consultants”?

Debt counsellors or consultants offer information and consulting services about debt relief options for a fee. There are situations where a debt consultant can help you make an informal settlement with your creditors. Other times debt consultants will offer you their services for a fee and refer you to a LIT to complete a bankruptcy or a proposal. Debt consultants can have business licenses to operate and debt collectors must be licensed and are regulated by the government. We are unaware of any educational pre-requisites that debt consultants are required to complete nor ongoing professional development requirements.

Would you like to meet with us?

No sell and no pitch, just real help. Let’s talk about your options and find the one that is right for you.