Plea for loan advert curbs
Sometimes advertising is so nakedly reality-denying that it grates.
Loan companies are among the worst at this.
Their loans, their adverts claim, are the way to gain ‘‘control’’, to ‘‘get a plan’’, to ‘‘make it happen’’.
Their loans are ‘‘a brighter way to borrow’’ for ‘‘ordinary Kiwis’’, for ‘‘everyday’’ people.
Images of tremendously happy, successful ‘‘borrowers’’ adorn their websites. They are often inexplicably wandering along beaches, or on swings, or doing handstands.
Loan company staff in adverts are always good looking, beaming beatifically, or giving you one of those ‘‘come hither’’ smiles.
But peek behind the adverts at the hard reality of the loans they are making, and a less sunny picture emerges.
When the British authorities did this with Payday loans in 2013 they discovered a very hard reality.
Sure, the annual payday loan