Advertising Standard Authority (ASA) has recently banned Kerry Katona Payday Loans advertisement from displaying on TV by saying that this advertisement is “irresponsible”. Apart from this, The ASA has also condemned the advertisement for suggesting people to take payday loans to live life like celebrity. They also quoted that this ad is nothing but to mislead lot of people by saying that borrow cash money and live celebrity-style life.
First of all I want to tell you that Kerry Katona is a reality TV Star. She is also known as cash lady. She was declared bankrupt in 2008 after failing to pay tax bill. Although she claims that she got bankrupt because of fraud. The good thing is that she is out of bankruptcy. Now she is promoting loans advertisement on TV. She also tells that after bankrupt she got financial help by the help of payday loans and advising other people to do the same on Television.
Here is few part of advertisement program which is displayed on Television Kerry Katona “We all have financial problems in our life. I also have financial problems. As you know bank require lot of documents and proof for approving loan. But there are easier ways to get loan and it is very fast. Payday Loans Fast cash for fast lives”
Basically the ad which is promoted by Kerry Katona suggested payday loans as an alternative to bank loan while offering this loan which cost Annual Percentage Rate (APR) higher than 2,000%. This is the main reason Advertising Standard Authority concluded the ad was irresponsible because it encourage vulnerable viewers and misguides those people who is in bad financial condition or in bad credit.
Apart from this, ASA also told that they have received at least 30 complaints against this advertisement. Because, this ad was based on Kerry Katona previously financial problem and it encourages other people to borrow money to get rid of financial downturn. But the company said that Katona was chosen because she has financial problems earlier therefore, customer would be able to relate to her. They also said that the ad was not irresponsible. Because of this issue Loan Company and Advertising Standard authority fighting with each other.
When Kerry Katoan Payday loan advertisement program is banned from showing it on Television then many people cheered for it. But these people get shocked when they are seeing the similar version of Advertisement appearing on TV late last Week. This time story is very different because Advertising Standard Authority (ASA) told that they are unable to stop the advertisement of Kerry Katona or Cash Lady from displaying the ad because this time her commercial advertisement program has been cleared for broadcast.
For your information I want to tell you that this story is quite similar to story of the Ryanair. In 2007 Ryanair ad was banned by Advertising Standard Authority. But Ryanair released another ad which is altered from the original version of advertisement. After this incident many ads of Ryanair was banned by ASA. Because of this, the senior person at Ryanair said that ASA is nothing but an “awfully stupid authority” and make absurd decision all the time which is based on the complaints from competitors not from customer.
Latter, Peter Sherrard who is communication chief said that Ryanair has not paid any attention which is suggested by ASA. After few days ASA as well as Ryanair moved to Office of Fair Trading. Know more about USA Payday Loans.