Posted: 26 November 2014

Today: Join us and Martin Lewis in calling to halt payday loan advertising

In a new blog post on the MoneySavingExpert.com website, consumer advice expert Martin Lewis wrote a great piece urging parliament to curb payday loan advertising.

He wrote: 'Payday lenders want to financially groom the next generation of borrowers. They've plastered their adverts on children's TV channels and family TV shows, used puppets and kid-friendly slogans, and even had people in Disney-esque costumes handing out lollipops in the streets.'

The article calls on members of the House of Lords to support an amendment to the Consumer Rights Bill that would ban payday loan adverts on TV and radio before the 9pm watershed.

Through our Debt Trap campaign we’ve been calling for this ban since September, with thousands of our supporters lobbying the House of Lords to take action.

Join us today - ask a Lord to help protect children from irresponsible payday loan advertising.

TAKE ACTION

'Ban payday TV and radio ads before the 9pm watershed'

Martin writes: '[Today] we need members of the House of Lords to grab the opportunity to back an amendment to the Consumer Rights Bill which would put restrictions on payday loan advertising, similar to those for gambling, alcohol, tobacco and junk food. 

'Specifically, it would ban payday TV and radio ads before the 9pm watershed – according to Ofcom research, this is when the majority of such ads are broadcast. A second amendment would stop firms cold calling people to offer payday loans.

Martin cites our research to make a powerful argument about the negative impacts of payday loan advertising on children.'

He writes: 'Those whose job is to protect young people’s interests are vocally behind this too – the Children’s Society is a prime lobbyist for this ban and a joint report between it and debt charity StepChange recently showed how family debt causes children to suffer from worry and anxiety, experience bullying and miss out on the basics of life. A third of children surveyed by The Children’s Society found payday loan adverts to be fun, tempting or exciting – and this group were much more likely to say they would consider using a payday loan in the future.'

Please act today

Martin wrote a great piece – please read the full text on MoneySavingExpert.com.

Please ask a Lord to help protect children from irresponsible payday loan advertising.

TAKE ACTION

By Andy Soar