Reality TV stars’ Instagram debt ads banned by watchdog
Instagram posts by three reality TV stars promoting a debt advice service claiming it could wipe out 85 per cent of people’s debt have been banned by the advertising watchdog.
Geordie Shore’s Chloe Ferry, Helen Briggs from Ex On The Beach and Towie’s Myles Barnett, who have more than 4m followers between them, all posted promotions for Debt Slayers on their social media accounts.
In a post in January this year, Ferry wrote: “If you know someone who is over £5000+ in debt this is a new fully regulated scheme that can help you write off 85 per cent of the debt”, while providing a link to Debt Slayers.
Barnett promised his followers that the service could “wipe off a big, big chunk of your debt”, claiming that one of his friends had used the service.
But the Advertising Standards Authority (ASA) today banned the posts after it upheld three complaints.
The watchdog found that the promotions were not clearly identified as adverts and that they over-simplified and exaggerated the process through which debts could be reduced.
It added that the ads were misleading as they did not make clear the risks associated with an individual voluntary arrangement (IVA) or that Debt Slayers merely passed on leads rather than offering the service itself.
Ashteck Media, which trades as Debt Slayers, said it had “informal agreements” with Briggs, Barnett and Ferry to produce the Instagram posts.
It added that consumers who contacted the company as a result of the posts were made aware of the risks and fees associated with IVAs.
IVAs are agreements that allow individuals to avoid bankruptcy by allowing them to strike a deal with creditors while protecting major assets.
However, campaigners have warned that many Brits have been taking out IVAs without needing to, which can harm credit ratings and employment opportunities.
An agent for Briggs said her future marketing communications would be properly labelled, while representatives for Barnett and Gerry said they would not work with debt management companies again.
The ASA said the ads must not appear again in their current form and told Ashtech Media to ensure its ads were not misleading.