A Bolton-based debt advice service, Money Advisor, has been censured by the Advertising Standards Authority (ASA) for suggesting it was a debt counsellor and associated with the government-funded Money Advice Service in a TV ad.
A TV ad which ran in January received two complaints, centering on several assertions including the fact it could help write off 100 per cent of someone’s ‘unaffordable debt.’ Other claims included the fact they could provide debt advice although the firm is not regulated by the Financial Conduct Authority to do so and is instead a lead provider.
Another complaint challenged whether the use of the Money Advice Service name and logo in the TV ad misleadingly suggested an association with that service, which the standards authority upheld.
In its defence, Money Advisor confirmed that its business involved validating consumers’ details before passing them on to an insolvency practitioner. Clearcast said that it was common practice for companies to act as agents on behalf of others.
Asa upheld four out of the five complaints made against the firm, including its misleading use of the Money Advice Service (MAS) logo and five-star customer reviews on its website giving the appearance of linking the businesses.
In its ruling, Asa said the ad must not be shown again in the same form and Money Advisor was told to ensure its future marketing communications did not mislead by implying it was qualified to offer debt advice or help consumers write off debt among a raft of other stipulations.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
