'I feel manipulated' The 'debt help' ads targeting struggling mums
"Debt help" social media posts are aggressively targeting people in problem debt. The posts claim to help end money worries but charities warn some companies are misleading people who are struggling.
Shauna kept up with her agreed payments of £185 a month. But after a year, she realised her debts had barely budged.An individual voluntary arrangement is an agreement between a person in debt and their creditors Set up in the 1980s as a way to help owners of small companies keep trading and deal with their debt, IVAs are a booming business. Almost 90,000 were registered in England and Wales in 2022, compared to about 50,000 in 2014,Although they can be a welcome solution for people who want to protect their assets, like their homes, IVAs are unlikely to be suitable for people with low levels of debt, people without much disposable income, or people whose income solely comes from benefits.
Meta, which owns Facebook and Instagram, declined to comment when asked about social media adverts promoting IVAs on its platforms.The BBC decided to investigate what was happening on TikTok. In June 2023, the BBC's data team searched TikTok for videos promoting IVAs, by typing in keywords like "debt help UK", "stop bailiffs" or "debt advice".
TikTok said it was "committed to working with the Advertising Standards Authority to ensure advertisers and creators comply with their guidelines". It added that adverts promoting debt consolidation and debt assistance programs, which IVAs fall under, "are not allowed on our platform and are removed".As the cost of living crisis deepens, Panorama investigates the booming debt management industry and the companies signing up people for Individual Voluntary Arrangements.
"I couldn't afford [the food shop] because the IVA went out [of my account]," she says. "I just feel ashamed of myself."Experiences like Shauna's are familiar to Morgan Wild of Citizens Advice. He says cracking down on social media content is "much needed", but also calls for greater regulation of the IVA sector itself.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Residents call for an end of anti-social behaviour at Belfast apartmentsResidents have said the problems have been ongoing for two years with police regularly called the apartments
Læs mere »
Derbyshire residents asked for views on anti-social driving orderThere were 232 reports of nuisance vehicles in the first six months of this year, the council says.
Læs mere »
Rangers star reveals his 'love' for the club in social media postRangers superstar 'confesses' love for the club in social media post as he looks forward to the upcoming season..
Læs mere »
Linda Nolan shares heartfelt tribute following 'devastating' deathThe Nolans singer shared an emotional message on social media
Læs mere »
Snapchat: Does app give drug gangs access to teenagers?An undercover BBC investigation finds drug gangs are using social media to recruit children.
Læs mere »
Gen Z is still suffering severe loneliness and social anxiety post-lockdown, here's how to help yourselfThe pandemic may be behind us, but lockdown life has had a detrimental affect on Gen Z. ➡️
Læs mere »