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 Paige.
Paige 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.
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.
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.