Tv Ads For Payday Loans Skyrocket In Uk

TV Ads for Payday Loans Skyrocket in UK

by

James Oleander

A general acceptance of payday loans has been creeping into society over the past few years. There was a time when people were so wary of payday loans, yet now they are a mainstream part of borrowing money.

Five years ago, someone would only take out a payday loan if they were desperate for cash and had no other option. Now the payday loan is a viable loan that helps people meet everyday expenses.

In addition to this gradual increase in payday loan applications, there has been a rapid rise in the number of payday loans ads that appear on TV, especially in the United Kingdom.

People in the UK have seen a 3500% increase in payday loans over the past few years, with the increase from 2011 to 2012 being measured at 64%. Statistics show that there were about 243,000 payday loan adverts on television in the UK, with this number rising to 397,000 in 2012.

There is no doubt that the number will have risen to beyond 500,000 in 2013. People are being exposed to payday loans more than ever before, with ads highlighting how useful, easy to obtain, and safe these loans can be. With the country in a mini economic crisis, it looks as though payday loans lenders are hitting the market at just the right time.

This increase in television ads shows that people\’s attitudes towards payday loans are changing a great deal. In the past, there would have been no need for payday lenders to take out so many ads, because they knew they would receive an overwhelmingly negative reaction.

They are now aware that people are looking to these loans as a way to make ends meet, instead of as emergency loan solutions.

Studies from payday lender

Payday Boss

show that more people are using payday loans to pay their rent, buy groceries for the week, and pay their bills on time. In fact, there is always a sharp rise in payday loan applications during the holiday season, with people borrowing to complete their

holiday shopping

.

The payday loans ads that appear on television are always charming, informative and extremely witty. Instead of appearing downbeat and focusing on people\’s money problems, the loans are portrayed as a simple and effortless solution.

After all, applications can be filled out online, and there are few requirements for getting a payday loan. Furthermore, the government in the UK has capped interest rates on these loans, so people do not have to worry about them being unsafe or predatory.

Getting loans online should always be a thought out process and never a knee-jerk reaction to a sudden urge to have the latest shoes for example.

Article Source:

ArticleRich.com