Ban the advertisement of high cost debt - 15 percent plus base rate

Rejected 20 signatures

What the petition asks

We call on Parliament to pass a bill which blanket bans the media and physical advertising of high cost debt (incl. but not limited to loans, credit cards, store cards, buy now pay later schemes). Predatory financial companies see the cost of living crisis as an opportunity to sell unnecessary debt

Through advertising, banks associate debt with happy outcomes. They use terms such as 'affordable finance', 'simple monthly payments' and suggest it is about 'control'.

In reality, debt is a loss of control and causes financial instability. It can lead to poverty, homelessness and family breakdown.

As a young man, I spent 12 years fighting banks in court to keep our family home - I don’t want others to experience that pain.

Parliament should prevent the promotion of high interest debt.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

You might like to sign the following petition:

Ban advertising for personal loans and credit
https://petition.parliament.uk/petitions/583732

Timeline

28 Apr 2022	Petition opened for signatures
3 May 2022	Rejected by the Petitions Committee

Key facts

Signatures 20

Status Rejected

Rejected 3 May 2022

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