Update 27 November, 2014:
As a result of our work with the Children’s Society, the Government has recognised the devastating impact being exposed at an early age to the advertising of high-risk credit can have on children. It has asked the Broadcast Committee of Advertising Practice (BCAP) to broaden the remit of its review of payday loans advertising to include the appropriateness of scheduling as well as content.
It is crucial that those interested in ensuring children are protected from the damaging effects of advertising emphasise to BCAP during the review period the importance of this issue. We welcome the input of partners in making the case to BCAP and would be keen to discuss the issue further with any interested parties. For further information please contact Joseph Surtees, Senior Public Policy Advocate at 0207 391 4582 or via email.
We cannot allow children to pay the price of debt
Despite millions of children living in families with problem debt, very little research has explored the impact it has on them. Our report, written alongside The Children's Society, lifts the lid on the devastating impact debt can have on children.
Combining a survey of 2,000 families with children, and in depth interviews with 14 families in problem debt the report reveals:
- 2.4 million children live in families with problem debt
- Families with children are behind with payments of £4.8billion
- A further 2.9 million families with dependent children are struggling to keep up