Helping protect children by banning payday loan ads before the watershed

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MSE has long been campaigning for a ban of payday loan adverts on children's TV. The Children's Society has recently published a report on how children are being affected by these ads and it is calling on the government to ban these ads before the 9pm watershed.
It wants the government to make these changes in the Consumer Rights Bill, which will be reviewed in the House of Lords from the 13 October 2014 onwards.
It's asking you to help join in by filling an online form to 'Lobby a Lord'. You fill in some personal details and the message to the Lord is pre-filled, which you can change if you want.
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It wants the government to make these changes in the Consumer Rights Bill, which will be reviewed in the House of Lords from the 13 October 2014 onwards.
It's asking you to help join in by filling an online form to 'Lobby a Lord'. You fill in some personal details and the message to the Lord is pre-filled, which you can change if you want.
Read the full MSE news story for more info:
Guest comment: 'Payday loan ads should be banned before the watershed'

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Guest comment: 'Payday loan ads should be banned before the watershed'

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Alternatively they should be advertised in a responsible way and not with cartoon figures selling PD loans in a funny lighthearted jokey way as people take the first step into financial oblivion. They should also include a mention for the CAB who will help clear up the mess afterwards.
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That's spurious logic, did you even read the editorial?
The comments around name recognition of payday lenders are worrying, many teenagers are terrible with money, I know I was. I grew up in a household where money wasn't really discussed, if I'd been sitting in front of the TV getting bombarded with adverts for lenders, who knows how bad my student debts would have been! :eek:
In fact I know he'd like these legitimised lenders banned from advertising completely, and preferably put out of business.
He tells me his business has really been hit hard since these legitimised PDLs have emerged.
Wouldnt just say its teenagers who are bad with money........for people to borrow off these payday companies and not be able to pay it back shows that lots of people in this country are bad with money !!!!
Personally i dont have a problem with payday companies because if we don't use them they are not an issue. It is the few who are irresponsible with money that bring these sharks into the headlines
There's plenty of products advertised on television that could have a negative impact on their users. Now, while it might seem ideal for some people to have all such adverts terminated, it would leave commercial breaks a little thin on the ground.
Instead, surely it should just be encouraged for parents to properly educate their children about the real world before they reach it without an idea?
I understand brand recognition and I understand the power of television advertising but just because something is on television doesn't mean that everyone is going to want it. Parents should talk to their kids, educate them on finances and make them realise that borrowing £500 at 1,400% APR is a bit daft. Since we now have financial education in schools is it not being brought up there as well?
I think efforts would be better placed in working out why on earth we have working families who are living below the poverty line that makes payday loan companies a viable business in the first place? Are they all frittering their cash away or is it something more significant such as salaries not rising in lines with inflation and leaving people behind?