SOLICITOR CALLS FOR BAN ON DAYTIME LOAN ADVERTS; Payday loans can get youths into 'dire financial straits'.
Byline: DAISY COLLINGWOOD ECHO reporter email@example.com @DaisyColl6
A TOP Liverpool solicitor has called for payday loan adverts to be banned from daytime TV to protect vulnerable youngsters.
Following the government's newly-announced review into gambling promotions before the watershed, solicitor Sean Rogers is calling for the same sort of review to be applied to short-term lending adverts - which he says can get youths into "dire financial straits".
Sean heads up the Stanley Street based Refund You Solicitors, who seek compensation for the vast numbers of young people who are mis-sold payday loans.
He said: "Payday loans might look appealing to young people, particularly on glossy daytime adverts. "But we are seeing time and time again that payday loan companies have granted loans to such vulnerable people without the correct checks and procedures having been implemented.
"In many cases, the lenders did not stop to question whether a young person could afford the repayments once other commitments were taken into consideration.
"Loans were dished out to young people, many of whom may have already had a poor credit history.
"In many cases this leaves people in dire financial straits because they were locked into loans with very high interest rates with no hope of paying it back.
"And in light of this, I'd ask that the government focuses its attention on pre-watershed payday loan adverts, not just gambling ones."
Sean is also calling for better lessons about personal finance to be strengthened accross schools throughout Merseyside, so that young people have a greater understanding of borrowing money and the factors that need to be considered.
His calls have been backed by charity The Children's Society, who say much of the advertising of payday loans is targeted around young people and the government is "skirting around the issue."
|CONCERNED: Top solicitor Sean Rogers is calling on the government to ban payday loan adverts from daytime TV
|Printer friendly Cite/link Email Feedback|
|Publication:||Liverpool Echo (Liverpool, England)|
|Date:||Oct 30, 2016|
|Previous Article:||They went to a football match and never came home, it could have happened to any of us.|
|Next Article:||22 marathons in 22 days to say THANK you... Soldier with PTSD aims to raise money for charity.|