Rejected petition Ban the advertisement of high cost debt - 15 percent plus base rate

We call on Parliament to pass a bill which blanket bans the media and physical advertising of high cost debt (incl. but not limited to loans, credit cards, store cards, buy now pay later schemes). Predatory financial companies see the cost of living crisis as an opportunity to sell unnecessary debt

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Through advertising, banks associate debt with happy outcomes. They use terms such as 'affordable finance', 'simple monthly payments' and suggest it is about 'control'.

In reality, debt is a loss of control and causes financial instability. It can lead to poverty, homelessness and family breakdown.

As a young man, I spent 12 years fighting banks in court to keep our family home - I don’t want others to experience that pain.

Parliament should prevent the promotion of high interest debt.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

You might like to sign the following petition:

Ban advertising for personal loans and credit
https://petition.parliament.uk/petitions/583732

We only reject petitions that don’t meet the petition standards.

Date submitted 28 April 2022
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