'Secret Millionaire' firm adding to Notts' debt, claim

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Thursday, August 28, 2008
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This is Nottingham

A COMPANY run by a man who appeared on TV offering undercover help to the disadvantaged has been accused of overcharging the debt-ridden in Notts.

Nottingham Credit Union (NCU) has criticised credit broker firm The Richmond Group for charging its clients £50 to put them in touch with the organisation.

The union has taken exception to the size of the fee – as its own contact details are freely available on the internet and elsewhere.

NCU chairman Clive Rix said: "We have no problem with credit brokers referring clients to us but we think that charging £50 to provide our name and address is just outrageous.

"They are taking advantage of people's ignorance or desperation."

However, the Richmond Group has refuted NCU's claim – stating that the service is only one part of a wider range they offer customers.

The Bournemouth-based company's managing director, James Benamor, was seen in the Channel 4 TV show The Secret Millionaire earlier this month.

He was shown helping underprivileged children at the Manchester Settlement Centre and the city's Mothers Against Violence group before he donated money towards both causes.

The Richmond Group's credit union service was set up following Mr Benamor's involvement in the show.

But Mr Rix said the NCU, whose office is in Radford Road, Hyson Green, took exception to the charges.

"Our advice to people looking for a loan is not to pay these exorbitant fees; save yourself the £50 and ring us directly instead," he said.

Mr Benamor told the Evening Post that the Richmond Group had written to more than 500 credit unions, including NCU, to inform them and explain the new policy.

The company had also given the unions the option of opting out from the scheme.

He said that they had received no response from NCU.

Mr Benamor said: "For the last ten years we have run a basic brokering service. But as with all things we have been looking at ways to improve our service.

"We'd previously never offered information on credit unions, but thought it might be a wonderful way to enhance our service and our own understanding of the voluntary sector."

As a credit broker, the Richmond Group works to obtain loans or credit cards for consumers, and charge a fee for doing so.

Mr Benamor added: "We work to find the very best financial solution to suit a client's individual needs.

"The fee that we charge is simple and transparent – there are no hidden charges.

"The customer is completely free to choose what sort of help they want."

bryan.henesey@nottinghameveningpost.co.uk

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