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Loan charges: Kerry Katona payday loan advert banned

A television advertisement for the payday loan company PDB UK, under the name Cash Lady, has been banned after receiving a large number of complaints.

It featured the ex singer Kerry Katona, who had previously been declared bankrupt, explaining her financial situation and saying how she managed to turn this around.

The Advertising Standards Authority (ASA) said that the advertisement was irresponsible as it encouraged people who are facing financial difficulties to borrow money. As a result, the ASA has banned it.

Payday loans have become a contentious issue as people have been increasingly turning to these to tide them over. Yet many have then struggled to pay off the debts that they incur from these loans.

New statistics from the debt charity StepChange showed that last year the number of people who need help with payday loan debts had almost doubled in 2012 and the average debt of people in financial difficulty had risen to £1,657.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801583129-ADNFCR



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