Tighter controls on Pay Day Loan companies.

• Petition
• Statistics

Petition Action

Tighter controls on Pay Day Loan companies.

Additional Information

They don't put APR% on adverts. They imply they’re all about giving you 'cash', in reality it's they who take your money. One company even uses the colloquial word for 'casual money with few / no strings attached' as their name.

They use senior citizen caricatures to represent a friendly face and a target character as vulnerable, weak-willed and absent-minded. This characterization identifies in the mind of the viewer to link towards individual who was considered a source of tax-free income to solve debt problems in the past. (i.e. cash 'loans' from lone senior citizens, never paid back).

These and other adverts create in the mind of the viewer a distorted sense of judgment of how best to resolve debt problems. They have create this judgment distortion so as to escape the ASA.

It's not the answer to borrow more money however pretty it’s dressed up. Just increases people's monthly outgoings.

We urge the Government to bring in tighter controls on 'payday loan' companies.

---

You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus