Pay day loan firms should be banned from advertising on TV

Mo Farrah after missing out on a gold medal
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I think it’s about time pay day loan companies were banned from advertising on television.

There’s nothing good about them.

They prey on the vulnerable, the desperate and the people who don’t understand what kind of interest rate they’ll be charged if they take out a loan.

Recently there’ve been letters in this paper about an alternative – going to see a credit union.

It’s a much better way to get some money to help you out of a hole. Sure, there’s no fancy puppetry or magic sliders, but there also won’t be a spiralling of debt that gets out of control.

As the post-Christmas bills land on the doormat, it’s no wonder people need a bit of help. But don’t go to a pay day lender.