Take action - together, we are campaigning to change the law to
protect children from payday loan adverts.
We know it’s become a daily battle for families to pay the bills, meet the mortgage or rent payments, and find money for food or other basics. One setback or even a simple mistake can lead to a spiral of debt.
We need your help – we have a crucial opportunity beginning on 13 October. Ask a peer to vote to ban payday loan adverts before the watershed.
Together, we can end debt's damage to children
Our new report, Playday not Payday: Protecting children from irresponsible payday loan advertising, reveals that right now children are being exposed to a barrage of payday loan adverts.
Almost three-quarters of children aged 13-17 say they have seen at least one pay loan advert in the last seven days. One in three children say they see pay day loan adverts 'all the time'. And 61% of parents believe that seeing payday loan adverts makes children believe these are a normal way of managing money.
This irresponsible practice puts even more pressure on families struggling to make ends meet.
Read more about our findings in Playday not Payday: Protecting children from irresponsible payday loan advertising.
What can we do to protect children?
It is not right that payday loan companies are making excessive profits on the back of exploiting children and their families, plunging them further into the debt trap.
Some 74% of parents agree with us that payday loan advertisements should be banned from television and radio before the 9pm watershed. We’re grateful that MoneySavingExpert.com is also supporting us and our campaign will be their ‘campaign of the week’ from 7 October. They have campaigned for a number of years on the issue of payday loans and have produced this helpful guide on the alternatives to payday loans.
If you believe children should learn about borrowing and money from their school and family – not from irresponsible payday loan advertising – then please join us in asking the House of Lords to amend the Consumer Rights Bill to ban exploitative payday loan adverts before the 9pm watershed.
We can help protect children from these adverts, but we must act now. Ask a peer to vote to ban payday loan adverts before the watershed.
Together, we can end the damage to children.