Children pester parents for payday loans after adverts blitz

More than half of ads are shown in the daytime, with cartoons and jingles common

Fears that payday lenders are grooming children accelerated yesterday after new figures revealed that the number of loan advertisements seen by Britain's kids has soared by almost 20,000 per cent in just four years.

The figures back up already published evidence that youngsters are being suckered by cartoon characters and juvenile jingles to believe taking out loans which charge as much as 5,000 per cent in interest per annum is perfectly normal family behaviour. Data from MoneySavingExpert showed that one in seven parents has been nagged to get a payday loan when they've refused under-10s something.

In 2008 3 million payday loan ads were seen by children aged four to 15. By 2012 that number had ballooned to 596 million. It means the average child saw 70 payday loan adverts last year, the shock new figures released yesterday by media regulator Ofcom revealed.

Disturbingly, more than half of all payday loan ads were broadcast in the daytime in 2012 and there was more TV advertising for payday loans than for mortgages, life insurance or investments. Meanwhile, the number of payday loan ads broadcast on TV has climbed from 17,000 in 2009 to 397,000 last year.

Citizens Advice chief executive Gillian Guy said: "Payday lenders are unashamedly and irresponsibly using adverts to prey on poorer households in a bid to capitalise on the cost of living crisis. Payday lenders should not be targeting children and teenagers with adverts.

"It is deeply concerning that children and teenagers were exposed to three times as many payday loan ads in 2012 compared to 2010. More and more adverts are appearing on music channels and TV stations popular with teenagers and young people as lenders try to entice the next generation of borrowers."

Citizens Advice has launched a campaign to highlight irresponsible advertising and the use of celebrity endorsements and cartoon characters in adverts.

A radio advert for Britain's biggest payday lender, Wonga, which featured a version of the popular 1950s song "Mr Sandman" was banned in October for being irresponsible. Earlier in the year the Advertising Standards Authority banned an ad by Cash Lady, featuring two-times bankrupt reality show celebrity Kerry Katona.

"The ads draw a veil over the hardships caused by payday loans," said Ms Guy. "We want TV viewers to take a stand against the payday loan industry by reporting irresponsible or misleading advertising. The FCA (Financial Conduct Authority) needs to introduce a clear and concise health warning on payday loan marketing which spells out the consequences of taking out a payday loan and to stop payday lenders targeting children with advertising."

Martin Lewis of MoneySavingExpert agrees. He said: "The Ofcom research is proof that payday lenders are grooming our children to be the next generation of borrowers. Ofcom's research should act as a clarion call for the Government to ban all high-cost credit advertising from kids' TV."

Life and Style
life
News
Brad Pitt and Angelina Jolie reportedly married in secret on Saturday
peopleSpokesperson for couple confirms they tied the knot on Saturday after almost a decade together
Life and Style
Chen Mao recovers in BK Hospital, Seoul
health
News
Joan Rivers has reportedly been hospitalised after she stopped breathing during surgery
people81-year-old 'stopped breathing' during vocal chord surgery
PROMOTED VIDEO
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
Arts and Entertainment
tv
News
i100
Arts and Entertainment
Diana from the Great British Bake Off 2014
tvProducers confirm contestant left because of illness
Arts and Entertainment
Lisa Kudrow, Courtney Cox and Jennifer Anniston reunite for a mini Friends sketch on Jimmy Kimmel Live
tv
Life and Style
fashion

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Client-Side web developer (JQuery, Javascript, UI, JMX, FIX)

Negotiable: Harrington Starr: Client-Side web developer (JQuery, Javascript, U...

Structured Finance

Highly Competitive Salary: Austen Lloyd: CITY - An excellent new instruction w...

SQL Server Developer

£500 per day: Harrington Starr: SQL Server Developer SQL, PHP, C#, Real Time,...

C#.NET Developer

£600 per day: Harrington Starr: C#.NET Developer C#, Win Forms, WPF, WCF, MVVM...

Day In a Page

Ukraine crisis: The phoney war is over as Russian troops and armour pour across the border

The phoney war is over

Russian troops and armour pour into Ukraine
Potatoes could be off the menu as crop pests threaten UK

Potatoes could be off the menu as crop pests threaten UK

The world’s entire food system is under attack - and Britain is most at risk, according to a new study
Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Seoul's plastic surgery industry is booming thanks to the popularity of the K-Pop look
From Mozart to Orson Welles: Creative geniuses who peaked too soon

Creative geniuses who peaked too soon

After the death of Sandy Wilson, 90, who wrote his only hit musical in his twenties, John Walsh wonders what it's like to peak too soon and go on to live a life more ordinary
Caught in the crossfire of a cyber Cold War

Caught in the crossfire of a cyber Cold War

Fears are mounting that Vladimir Putin has instructed hackers to target banks like JP Morgan
Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years

Salomé: A head for seduction

Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years. Now audiences can meet the Biblical femme fatale in two new stage and screen projects
From Bram Stoker to Stanley Kubrick, the British Library's latest exhibition celebrates all things Gothic

British Library celebrates all things Gothic

Forthcoming exhibition Terror and Wonder: The Gothic Imagination will be the UK's largest ever celebration of Gothic literature
The Hard Rock Café's owners are embroiled in a bitter legal dispute - but is the restaurant chain worth fighting for?

Is the Hard Rock Café worth fighting for?

The restaurant chain's owners are currently embroiled in a bitter legal dispute
Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival

In search of Caribbean soul food

Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival
11 best face powders

11 best face powders

Sweep away shiny skin with our pick of the best pressed and loose powder bases
England vs Norway: Roy Hodgson's hands tied by exploding top flight

Roy Hodgson's hands tied by exploding top flight

Lack of Englishmen at leading Premier League clubs leaves manager hamstrung
Angel Di Maria and Cristiano Ronaldo: A tale of two Manchester United No 7s

Di Maria and Ronaldo: A tale of two Manchester United No 7s

They both inherited the iconic shirt at Old Trafford, but the £59.7m new boy is joining a club in a very different state
Israel-Gaza conflict: No victory for Israel despite weeks of death and devastation

Robert Fisk: No victory for Israel despite weeks of devastation

Palestinians have won: they are still in Gaza, and Hamas is still there
Mary Beard writes character reference for Twitter troll who called her a 'slut'

Unlikely friends: Mary Beard and the troll who called her a ‘filthy old slut’

The Cambridge University classicist even wrote the student a character reference
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone

America’s new apartheid

Prosperous white districts are choosing to break away from black cities and go it alone