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Facebook users warned about ads
The Office of Fair Trading has been warned about the adverts
Credit companies are using the Facebook social networking site to target young people, a debt charity has warned.
Credit Action says adverts promising cheap loans for people with poor credit ratings are appearing on the site and many break advertising regulations.
In particular, they are promoting two new products - payday loans secured against a salary or logbook loans secured against a car, it says.
The charity has made a complaint to the Office of Fair Trading.
Breaking rules
Credit Action says many of the adverts contravene UK credit advertising regulations, usually by failing to give details of interest rates.
It is now advising Facebook users to warn the website about adverts which break the rules.
BBC technology correspondent Rory Cellan-Jones says the adverts are being placed at a time when it has become harder to borrow from traditional sources.
Facebook, along with its main rivals Bebo and MySpace, lets users set up personal web pages and communicate with each other.
It has an estimated 50 million members worldwide and figures released earlier this year suggest that it has 8.5 million UK-based users.
The Office of Fair Trading has been warned about the advertsCredit companies are using the Facebook social networking site to target young people, a debt charity has warned.
Credit Action says adverts promising cheap loans for people with poor credit ratings are appearing on the site and many break advertising regulations.
In particular, they are promoting two new products - payday loans secured against a salary or logbook loans secured against a car, it says.
The charity has made a complaint to the Office of Fair Trading.
Breaking rules
Credit Action says many of the adverts contravene UK credit advertising regulations, usually by failing to give details of interest rates.
It is now advising Facebook users to warn the website about adverts which break the rules.
BBC technology correspondent Rory Cellan-Jones says the adverts are being placed at a time when it has become harder to borrow from traditional sources.
Facebook, along with its main rivals Bebo and MySpace, lets users set up personal web pages and communicate with each other.
It has an estimated 50 million members worldwide and figures released earlier this year suggest that it has 8.5 million UK-based users.
