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 & 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 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.

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 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 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.

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.