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 free consultations to help people understand their options.
At Frederick & Company Ltd Licensed Insolvency Trustees, 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 has served as the President of the Alberta Association of Restructuring Professionals (AAIRP) to contribute back to her profession.
Discovering the insolvency industry when she was in university Rebecca has 20+ years of experience working in this field. She has been fortunate enough to work long term for a national insolvency office where she was exposed to a variety of files with very interesting fact scenarios that has prepared her to think outside the box when helping those people that seek out her help.
Seeing an opportunity to provide a more individual-focused approach to insolvency Rebecca started Frederick & Company Ltd in 2014 to reshape the experience of people facing financial distress. At Frederick & Company Ltd. she made sure the focus was on educating the people that have come to us for help to ensure the focus was always on the individual and how we could help them, not ourselves.
Rebecca is the wife of a hard-working accountant, mother of three beautiful energetic children who keep her on her toes 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 Colleen.
Colleen has worked in the Insolvency Industry since 2010 in varying roles.
Colleen is very caring and is quick to establish rapport with the people she meets with daily via phone and in-person.
She holds a Bachelor of Commerce degree, as well as degrees in French and Spanish.
Colleen loves spending time with her two boys, especially doing activities outdoors such as biking, walks, and skiing in the winter season. She enjoys attending sporting events in Edmonton, especially basketball and soccer with her family. She is a qualified scuba diver, with about 70 dives logged to date, but doesn’t get the opportunity to dive as often as she would like. Colleen is also an avid reader and is a member of the local community choir.
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 & Co has lent itself to a constant adventure and continued professional growth. He believes in caring for mental health and 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 piano, challenging himself on hikes, and eating anything he can get his hands on.
Meet Paige.
Paige has recently joined Frederick & Company Ltd. as a Licensed Insolvency Trustee. She joined the insolvency industry in 2012 as a receptionist and her passion for the industry and desire to help people has allowed her to work through all office ranks and complete all of the national insolvency courses and finally her Licence. Paige thrives on understanding the individual’s circumstance to help develop their own unique plan to become debt free. Those that know or have worked with Paige know that she loves the Bankruptcy and Insolvency Act and you will often find her rereading it or other insolvency related topics always trying to expand her insolvency knowledge.
Paige grew up in rural Camrose and growing up in a small town has allowed her to be involved in her community, an advocate for government programs and services to help individuals access the help and support they need to prosper. She is very involved in her community and hopes to become more active in the insolvency community and individuals in need.
More than anything else Paige loves her Frenchie Phil and in her spare time you will often see her buying/ making new toys or activities to keep Phil busy while she is trying to do her own home renos, learning to garden or rearranging her house for the millionth time. She is also very social and is always making time for family and friends and updating them on her shenanigans with her annual Christmas Card.
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 positioned to help you understand your responsibilities and your options for moving forward. Book a consultation with us today.
Meet Elaine.
Elaine comes to us with over 30 years of insolvency experience in a variety of positions. Her career began in the Corporate Insolvency Restructuring and Business Investigations areas of services in Calgary, Alberta. When her family relocated to Edmonton in 1995, she followed along.
She has worked for many firms providing financial
solutions to corporate and personal clients; she now has been focusing the last decade with personal clients’ needs.
She emigrated from Ireland with her parents at an early age, has two grown sons, and has two grandchildren that are the light of her life; she also enjoys spending time with them and their farm animals that are constantly growing in numbers.
Elaine has also spent many years in the school system with deaf and hard of hearing children, helping them flourish with their education, and has also advocated for the hearing impaired at the Alberta Legislature Building with two Ministers of Education.
You will always find Elaine travelling in her Jeep across the country during the summer season following and cheering on her Saskatchewan Roughriders with Friends and Family.
Meet Shayla
Shayla has lived in Sherwood Park for three years, previously she lived on an acreage with her family. Shayla has always been very family- orientated which helps with her compassionate attitude towards others. She has a large family with whom she loves spending time with whenever she gets a chance.
Shayla has just recently joined the Frederick and Co. team and has loved learning everything that they have to offer and is excited to grow with them. She is also eager to learn and experience many exciting new things with her colleagues.
When Shayla isn’t with her work family, she uses her free time to camp, hike, paint and play with her Yorkie dog, Chloe. Shayla’s friends and family cherish her for her fun-loving character and her ability to see the best in everyone.
Meet Jessica.
Jessica was born and raised in Edmonton, Alberta and is a vital part of a large family. She spends much of her free time with her sisters and her niece.
Jessica is currently enrolled in Bachelor of Management through Athabasca University and plans on obtaining a degree. She joined Frederick & Company Ltd. in July 2021 and although her experience in Insolvency is limited, she already has a heightened appreciation for restructuring services.
When she’s not helping those around her, she uses her free time to paint, read, and bake. Jessica is known for her humour and has a knack to make the most out of situations with her positive attitude.
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.