Advertisements from payday lending firms should be banned

Paul Nuttall, UKIP MEP, is calling for  payday lending advertisements to be banned.

Mr Nuttall said: "Now that former pop star Kerry Katona has filed for bankruptcy for the second time in only five years, perhaps it is high time that advertisements from reckless payday lending firms such as Cash Lady were banned from our television screens for good. 

"These payday lenders are legal loan sharks who prey on those already in a vulnerable financial position and drive their 'customers' into vicious debt spirals.

"I am quite astonished that it has taken two bankruptcies for Cash Lady to sever their relationship with Ms. Katona. I do wonder, however, how long it will be until she is asked to be the face of a similar firm.

"Thankfully, payday lenders are at last under investigation and are having their activities scrutinised. However, in the meantime, the lure of these loans must be dampened by banning bankrupt celebrities from fronting their advertisements."