Wage Day Advance Advert - very irresponsible, can we complain?

daveshoelace

I am starting to think there should be some strong guidelines for advertising pay day loans. I saw this one this morning and think it is one of the most irresponsible adverts ever:

http://www.youtube.com/watch?v=F3e95z5-1uI

Holidays and paying off other debt? Thats what they advise people use this for.

Also, if you notice, the small print with the apr is elongated in such a way that it is difficult to read.

Whom can we complain about such trash to? Is it the FSA or is it Ofcom?

[Deleted User]

Neither. The ASA.

Apples2

I don't disagree with you but if you could see the amount of posts we have on here where people are looking for these loans for precisely that reason...it makes perfect sense.

Daft I know.

You can complain to the ASA (The Advertising Standards Authority).


EDIT: Bah, beaten by a 1981 Zx81. Must upgrade my PC.

ALIBOBSY

TBH I think pretty much all "credit" adverts are pretty immoral. Most include holidays as something to borrow for and those mastercard ads that imply your life will be better and all ills solved if you have mastercard are frankly offensive-along the lines of a certain softener ad that implied you were a bad mother if your kids didn't have lovely soft scented jumpers to wear.

I believe that advertising debt-because thats what it is, should all be much more tightly controlled in the way that ciggerette ads and alchohol are. Debt of any kind should not be portrayed as ordinary and everyday espcially when children will be watching. The ads should only be able to show their product and what it costs NOT to show what you could use it for/buy as that is just encouraging people to borrow to spend on any all rubbish.

I actually thought that particular pay day ad, although the apr was hard to read-but all banks etc do that in their ads really, wasn't that bad in that it showed the actual amounts paid back compared to the amounts borrowed and in the second "example" if the girl had been turned down by her bank for a short term overdraft and she knew she would be getting unauthorised fees of say £5 per day for 10 days that month (not uncommon) then using the pay day loan and paying £20 instead means she would be quids in.

Not supporting pay day loans and we ourselves got sucked in by them a few years ago (what a relief it was to finally get those paid off-almost as fab as the day we got rid of our overdraft ). BUT not sure the ad is any worse or more irresponsible than any other lenders ads and agree with Martins point about these type of loans stopping some people going to loan sharks.

BTW I believe if you want to complain about a specific ad its the ASA (advertising standards agency), but not sure if they cover online ads as well as TV ones. May be worth copying in the FSA as well as they may be considering issuing guidelines about these type of loans?

Ali x

DCFC79

Dont see anything wrong with it, people are able to make decisions for themselves but if they cant see the wood for the trees re the fact that they would have to repay it then they're fault.

Unfortunately there are those who aren't clued up on finances and think its perfectly fine to use a PDL to pay for a holiday without thinking about paying it back once returned.

The ASA is who you complain to about any adverts.

Peelerfart

Have to agree with DCFC if people are stupid enought to go for it,and lot's are,
(we had a remarkably stupid poster on here yesterday reporting her bf worked cash in hand to all and sundry),then really they have only themselves to blame.

Years ago for those who remember the cigarette ads,they were some of the best put together ads on the telly,but that did make me wanna smoke? yeah actually it did.

See stupid people are everywhere.

ceegee

I saw a bit of a "blast from the past" on the telly yesterday.

Ocean Finance (remember them!) were advertising consolidation loans....they used the actual words "consolidation loan".

It's quite scary that they are allowed to do it and get away with it. What an awful mess it has all become.

Apples2

Don't forget the Thinking Mans Totty, Carol Vorderman

http://www.youtube.com/watch?v=dSR4ZAbBwh0

KingElvis

Those First Direct adds are classics, almost as good as the Yes Car Finance ads

poppasmurf_bewdley

daveshoelace wrote: »

I am starting to think there should be some strong guidelines for advertising pay day loans. I saw this one this morning and think it is one of the most irresponsible adverts ever:

http://www.youtube.com/watch?v=F3e95z5-1uI

Holidays and paying off other debt? Thats what they advise people use this for.

Also, if you notice, the small print with the apr is elongated in such a way that it is difficult to read.

Whom can we complain about such trash to? Is it the FSA or is it Ofcom?

It's only like the ads for betting companies who tell us they have "a million winners every week". They never add "and five million losers"!

malkyh

Adverts are meant to be enticing. If they weren't what would be the point?

Yeah, they advise (or is it suggest) you use the cash for a holiday, or paying off debt, but at the end of the day you get the cash for the reason you want it.

The problem starts when you don't pay back what is due. If you can't afford to pay back the loan on the due date you agree to then it's your own bloody fault for what comes next.

Can't pay? DON'T TAKE THE LOAN!!