MSE News: Payday loan crisis calls double as Kerry Katona Cash Lady TV ad banned

edited 8 May 2013 at 11:18AM in Loans
36 replies 5.5K views
Former_MSE_HelenFormer_MSE_Helen
2.4K Posts
edited 8 May 2013 at 11:18AM in Loans
"The number of people seeking help with payday loan debts doubled last year, says StepChange Debt Charity..."
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Payday loan crisis calls double as Kerry Katona Cash Lady TV ad banned

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  • RuthnJasperRuthnJasper Forumite
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    PDL Companies are bad enough - but anything endorsed by Kerry "chip-shop" Katona would make me run two miles rather than one... ;)
  • mattytunmattytun Forumite
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    Part of me feels that anyone stupid enough to take out a payday loan because Kerry Katona told them to is probably a lost cause. It beggars belief how this advert was allowed on in the first place.
    Who deemed it okay for broadcast?
    Can't sleep, quit counting sheep and talk directly to the shepherd :cool:
  • alinwalesalinwales Forumite
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    Is KK effectively saying that when she first ran into financial trouble those years ago, all it would have taken was a 300 quid loan, and all would have then been hunky dorey?
  • PeelerfartPeelerfart Forumite
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    There is another way of looking at it though,

    http://www.youtube.com/watch?v=vB-Jpd2hnfo
    Space available for rent
  • Gordon_HoseGordon_Hose Forumite
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    I always take my financial advice from bankrupt druggies.

    Oh, wait...
  • fozmcfcfozmcfc Forumite
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    I don't see anything wrong with the advert at all.

    Yes taking out a payday loan is one of the last things you should do, but Wonga, Payday UK, QuickQuid all have longer adverts, all pretty much saying the same thing and particular in the first 2, done in a much more jovial it's only money way.

    Ban this advert, then surely all the others should be as well.
  • SnowTigerSnowTiger Forumite
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    fozmcfc wrote: »
    I don't see anything wrong with the advert at all.

    Yes taking out a payday loan is one of the last things you should do, but Wonga, Payday UK, QuickQuid all have longer adverts, all pretty much saying the same thing and particular in the first 2, done in a much more jovial it's only money way.

    Ban this advert, then surely all the others should be as well.

    The ASA comes up with some odd decisions.

    IIRC it was the ASA who decided that the word 'unlimited' can mean limited when it come to mobile phone contracts.

    Perhaps Cash Lady should stick an asterisk next to KK with a disclaimer at the bottom of the screen. :rotfl:
  • fozmcfcfozmcfc Forumite
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    What needs to be looked at, is the general ads during the day.

    Most of the morning ones seem to be regarding gambling on bingo/casino sites and payday loans and other type of high interest loans.

    If we are going to insist on continuing to turn this country into a complete nanny state, then restrictions such as the amount of these types of ads or the time the ads can be broadcast should be implemented.

    At the moment, your average bored house person/unemployed person, is constantly being encourage to gamble or take out a loan, they will never be able to pay back.
  • dealer_winsdealer_wins
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    The AD was only banned due to the phrase "Fast loans for fast lives". The ASA ruled that it was suggestive that taking out a PDL would give you a celebrity lifestyle LOL

    It wasnt banned for being a PDL advert, or having ridiculously APRs, or causing people severe financial hardship etc

    Bit of a non-story really.
  • I_luv_catsI_luv_cats Forumite
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    fozmcfc wrote: »
    What needs to be looked at, is the general ads during the day.

    Most of the morning ones seem to be regarding gambling on bingo/casino sites and payday loans and other type of high interest loans.

    If we are going to insist on continuing to turn this country into a complete nanny state, then restrictions such as the amount of these types of ads or the time the ads can be broadcast should be implemented.

    At the moment, your average bored house person/unemployed person, is constantly being encourage to gamble or take out a loan, they will never be able to pay back.

    http://www.asa.org.uk/Rulings/Adjudications/2013/1/CashEuroNet-UK-LLC/SHP_ADJ_208199.aspx

    This one was annoying with the examples of credit customers
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