No more payday lenders criticized and banned for irresponsible advertising | The independent

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Three other payday loan announcements were banned today. These include a short-term lender that tried to differentiate itself from payday loans, but was criticized by the Advertising Standards Authority for producing irresponsible advertising.

Cash On Go trades as Peachy Loans and claimed in its ad that its short term loan deals were “cheaper than payday loans!” “

This claim annoyed the Citizens Advice charity, which felt it was misleading. He also took offense at the use of cartoon images on the ad which he described as “irresponsible because they displayed a flippant attitude towards borrowing.”

The ASA agreed and today asked the company to remove the ad and not pretend its offers are cheaper than payday loans. It also censored two other ads that the charity complained about.

He said a text message from Loan-monarch.co.uk was irresponsible as it encouraged customers who had been refused loans elsewhere to take out a loan.

The ASA also responded to a text message from expenses4u.co.uk for similar reasons. Last week, he banned a Pounds to Pocket ad for irresponsibility.

Citizens Advice CEO Gillian Guy said, “With four payday loan ads banned in a fortnight, the payday lending industry needs to improve its game. Lenders need to review their marketing materials and ensure that they are fair and responsible.

If you think a payday loan ad is irresponsible or misleading, you can report it to Citizens Advice or the ASA.

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