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Kerry Katona criticised over payday loans ad
1:00pm Thursday 10th January 2013 in News
KERRY Katona is back on the nation’s TV advertising for a payday loans company.
The Padgate born reality TV star, who was declared bankrupt back in 2008 before getting the measure lifted in 2011, is the new face of payday loan company cashlady.co.uk.
In the TV adverts, which started airing on Tuesday, Kerry is seen talking about money problems including her own.
But she has faced criticism for fronting the campaign for the company which on its own website says the representative APR is 2,670 per cent.
The company offers loans of up to £300 for short term help to employed people over 18-years-old.
On the website the company also says users can expect to pay on average £29 interest on every £100 borrowed and urges people taking out loans to make sure the money can be paid back the next month or face extra charges with more interest building.
But Kerry said she was happy to be the face of cashlady.co.uk as they were more responsible with links to independent money advice and kept users informed.