Slight clamp-down on misleading IVA advertising

fatbelly

The Advertising Standards Agency (ASA) has published a new enforcement notice regarding IVA adverts from insolvency practitioners and lead generation companies.

https://www.asa.org.uk/news/enforcement-update-debt-management-ads.html

The ASA will begin targeted monitoring and enforcement of adverts from 25 July, reporting companies to Trading Standards or insolvency regulated professional bodies where necessary.

The notice prohibits a range of misleading practices which will be familiar to many of us, including:

• Use of company names which mimic high-profile charities, or which imply government approval
• Exaggerating the speed or ease of application
• Targeting specific groups, for example women
• Making unevidenced claims about the potential debt write-off
• Using reviews which are not provably genuine
• Claiming a service is free, where a potential IVA would include fees

The notice applies to IVA and Scottish protected trust deed advertising by insolvency practitioners and lead generators. 

In this context CAP refers to The Committee of Advertising Practice Ltd.

SusieT

Hopefully they will act on it and hit some of the companies involved hard. Ai may not be as much as they could have done, but at  least it is a start.

RAS

You can reduce your debt by "up to" 75%, 80, 81, 83, 85 or 89 or even 90%?

Or reduce your monthly payments to £79 or £90 per month?

Looking for a free IVA? Or even better "all fees are included in your monthly payment. No additional fees charged.

A lot describe them as a private contract, and I really like the confidential one.

Glad to see that references to Government approval are to go. And that referrers have to state what they are doing clearly. And no longer claim that IVAs are free.

Grumpelstiltskin

I wonder what some of these companies are going to come up  in their adverts after 25th July?

Some other inaccuracies.