Exclusive Video Series Takes Unusual Approach To Educating Consumers
Cash-strapped consumers may express hatred for
payday loans, but you’ve never seen the industry itself partake in
In a strange twist, a series of exclusive videos launched by payday lending site 100 Day Loans UK confronts the stigmas plaguing these short-term loans.
A Unite union survey reveals that around 4 million consumers rely on
payday loans, borrowing approximately £327 per month to get by, while
losing more wages to pay off interest.
100 Day Loans UK recognizes the road to borrowing is paved with risks.
While competitors tend to gloss over harsh borrowing realities, 100 Day
Loans UK attempts to shine a light on the darker side of payday lending.
Unfortunately, payday loan misinformation may be all too accessible to potential borrowers. According to the Advertising Standards Authority (ASA),
Wonga received 82 complaints after one of their recent puppet adverts
allegedly made misleading statements regarding loan terms.
Other lenders also attempt to appeal to consumer’s impulsive spending
habits. The BBC revealed that Payday Bank promoted loans for celebrating
May’s Diamond Jubilee.
100 Day Loans UK’s videos illustrate the dangers while managing to link desperate borrowers to the resources they need.
The videos with four consecutive weekly releases in October will address multiple real-world stigmas through dramatic sketches:
• “I Hate You Payday Loans – The Relationship”: a silent but powerful illustration of the danger of rolling over a loan.
• “I Hate You Payday Loans – The Rap”: one payday loan borrower vents his frustrations through an entertaining song.
• “I Hate You Payday Loans – The Ripple Effect”: one woman reveals a tragic, unexpected consequence of battling sky-high APRs.
• “I Hate You Payday Loans – Getting Dumped”: When romance and money
don’t mix, a woman reveals how her little white finance lie cost her a
shot at love.
In addition to videos, 100 Day Loans UK connects consumers to a bounty
of resources, including a consumer survey, informative blog post series,
infographic and e-Book.
100DayLoansUK is a licensed credit brokerage business which connects
borrowers and lenders for the purposes of entering into short-term
unsecured loan agreements. In an industry crippled by bad press, an
unpopular product and irresponsible marketing tactics, 100 Day Loans UK
is attempting to bring clarity to how these loans should be handled. For
more information, view our videos at http://www.youtube.com/user/100DayLoansUK and please visit 100dayloans.co.uk/articles to get an education before you fill out an application.