| Facebook users warned about ads |
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| Submitted by actz | ||||||
| Monday, 12 May 2008 | ||||||
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Credit companies are using the Facebook social networking site to target young people, a debt charity has warned. Credit Action says adverts promising cheap loans for people with poor credit ratings are appearing on the site and many break advertising regulations. In particular, they are promoting two new products - payday loans secured against a salary or logbook loans secured against a car, it says. The charity has made a complaint to the Office of Fair Trading. Credit Action says many of the adverts contravene UK credit advertising regulations, usually by failing to give details of interest rates.
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