Wondered why the Picture the Loan advert hasn’t been on TV for a while?
Picture Financial services, the personal loans company, has always had much criticism from the public who see it as one of the most irritating adverts on TV. It also had several complaints about it from viewers to the Advertising Standards Agency (ASA) who have reviewed it and ordered Picture to stop showing it on television in its current format as it had broken advertising rules.
The reason? ASA, the advertising watchdog, find the advert is misleading to consumers as it gives the impression that taking out a large secured loan for £25,000 is an everyday occurrence. It implies that a consolidation loan is the answer to financial problems. This is true for some people but for others it can lead them into even more debt.
The action of taking out a consolidation loan, especially one that is secured against your home, is a big financial decision, a step that shouldn’t be taken lightly as the advertisement implied. ASA said “We concluded that the ad was likely to mislead”.
A spokesman for Picture said that they wanted “to illustrate, in a light-hearted way, how busy lifestyles and conflicting demands faced by customers made it difficult for them to sort out their finances.”. However the advert with the ‘Josh, Dad’s found your scooter’ line which was supposed to reflect this came across completely differently for those who saw it.
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