Petition Tighter controls on Pay Day Loan companies.

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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.

This petition is closed This petition ran for 6 months

20 signatures

Progress of the petition towards its next target: 20 of 10,000 signatures required to get a government response

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10,000 signatures required to get a government response

Date closed 4 December 2013
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