A TV ad for a short-term loan company has been banned by the Advertising Standards Authority (ASA) for being misleading. The advertisement for Cash on Go, which trades as Peachy.co.uk, contained images of varying payment amounts which appeared before the words, “multiple repayments. Over 18s, subject to status. Representative APR 1058%”. The voiceover said: “Payday loan companies expect you to repay your loan in one big payment. However, Peachy.co.uk offers multiple repayments, that’s right, multiple repayments.” A complainant contested whether the claim that payday loan companies expect a lump sum payment was misleading because they understood most companies allowed payments in instalments. The ASA also questioned whether the APR was sufficiently prominent.....Read more here