Petition · past parliament
Ban the advertisement of high cost debt - 12 percent plus base rate
Closed
741 signatures
What the petition asks
We call for legislation which bans all advertising - physical, online, media - 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 can lead to loss of control and cause 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.
The Government should prevent the promotion of high interest debt.
In reality, debt can lead to loss of control and cause 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.
The Government should prevent the promotion of high interest debt.
Timeline
| 9 May 2022 | Petition opened for signatures |
| 23 Nov 2022 | Closed to new signatures |
Key facts
Signatures
741
Status
Closed
Opened
9 May 2022
Closed
23 Nov 2022
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Source: the official petition page. Last checked 15 Jul 2026.