Money Matters - and so does debt!

Press Release: WEST MIDLANDS MEP TO LAUNCH NEW DEBT ADVICE BOOKLET IN CHELMSLEY WOOD

 

Mandy Wilson and Nikki Sinclaire MEP ahead of Mondays launch

 

After hundreds of letters from concerned constituents who are looking for somewhere to turn, one West Midlands MEP is launching her own guide on where to turn when you are feeling the stress of financial problems.

 

On January 7^th 2013, Nikki and her team will launch her new money matters booklet in Chelmsley Wood.

 

The booklet entitled, “Money Matters, and so does debt” has been produced by Nikki Sinclaire MEP and her team in response to the many letters asking for advice on issues such as benefits or budget planning. Topics dealt with in the booklet include budget planning, priority debts and pay day loans.

 

In the run up to Christmas it is estimated that as many as four million people have taken out a payday style loan in the run up to the festive season. This is the equivalent of almost 1 in 6 households.

 

For the month of January, Nikki’s team will take up a stand once a week in Asda in Chelmsley Wood to distribute the magazines, as well as to talk to constituents about any concerns they may have.

 

In a YouGov poll conducted in December 2012, it is estimated that as many as 31% of Brits have gone into debt to fund Christmas.

 

Nikki Sinclaire said, “Growing up on a council estate, money was tight in my family and I know the struggles of having to juggle what you can and cannot pay each month. Money worries can cause great amounts of stress. I hope this booklet can help direct my constituents in the right direction of services that can really help them”.

 

“Debt is a form of control and prevents people from improving their own lives. The key is to get people talking about debt and taking control of their own financial situation”.

 

The We Demand a Referendum MEP also welcomes people to come along to the stall to discuss any issue at all that they think that Nikki may be able to help with.

 

The stall will be open at the Asda in Chelmsley Wood from 10am until 4pm on the following dates in January:

 

Monday 7^th January

Monday 14^th January

Thursday 24^th January

Tuesday 29^th January

 

Constituents can ring to request a booklet on 0121 359 5933 or can email the team on NikkiMep@gmail.com

Nikki Sinclaire to meet with Brighthouse directors with concerns about rent-to-buy schemes

 

A local MEP will this week meet with a leading rent-to-own company to discuss constituents concerns.

 

Nikki Sinclaire, who is one of the elected members of European Parliament for the West Midlands, has managed to secure a meeting with Commercial Director Hamish Paton to discuss concerns that constituents have brought to Nikki’s attention.

 

Nikki is keen to discuss the company’s practices after a number of constituents have complained about how the company works.

 

The rent-to-buy store claims that it is filling a gap in the market held by individuals that, according to their Brighthouse Group website, lack access to mainstream credit or sufficient funds to obtain the goods they need. Rather than a traditional credit check from an outside agency that many customers would fail, Brighthouse run their own credit checking facility which includes making decisions based on meeting the customer instore and using a tailored scorecard based upon socio-demographic profiles of the customer base.

 

Brighthouse supply a number of products, from your basic white goods such as washing machines and cookers, to the higher end luxury items including 3d televisions and Nintendo 3DS consoles. With service cover and interest, customers can expect to pay nearly double the items value with their payment scheme.

 

Nikki said, “In times of austerity, rent-to-buy schemes are very attractive to vulnerable constituents who have nowhere else to turn. My key focus is on responsible lending. While I understand that Brighthouse is a business, my constituents are my first concern and I feel it is my duty to explore the problems they are having with this company”.

 

Despite the financial downturn, Brighthouse continue to be on the up with new stores seemingly popping up all over the country. Nikki’s constituency of the West Midlands currently has around 30 Brighthouse stores and there are currently 240 Brighthouse stores nationwide. With aggressive expansion planned for over 600 stores, the familiar yellow and red logo will surely be appearing in more West Midlands locations.

 

 

According to Brighthouse’s own corporate website, the brand has the potential to reach over 2 million customers in the UK. A typical Brighthouse customer lives within 3 miles of their local store, does not own a car and has a friend or family member who is also a Brighthouse customer.

 

Nikki will take numerous case studies to discuss with Mr Paton, as well as exploring the companies’ views on what it describes as “ethical lending”.

“Debt is a form of control as it restricts people from bettering themselves. I’m hoping this meeting with Brighthouse can make a real difference to those who are struggling with debt issues in the West Midlands”.