Credit companies target young people through Facebook
Payday loans and logbook loans which are secured against a salary and a car respectively, are the two most popular types of credit agreements being offered through Facebook and are targeted at young people with bad credit ratings.
Credit Action has also compiled a list of the worst offenders of credit companies advertising credit products and has made a complaint to the Office of Fair Trading. There is also a Facebook group called 'Debt can seriously cramp your style!' where users can report any misleading ads.