Farepak families fund is launched

[AnguaVonUberwald]

I was totally shocked at the complete disregard of the Farpak company for any notion of decency but hopefully this is a bit of good news!

"A new fund is being set up to help the thousands of families affected by the collapse of the Farepak hamper firm.
The Minister for Consumer Affairs, Ian McCartney, said the Farepak Response Fund was being established with help from York-based charity Family Fund.

He said Tesco had pledged £250,000 and called on other firms to help.

Swindon-based Farepak ran a savings scheme for 150,000 people for vouchers and Christmas hampers, but collapsed in October without offering compensation.

In another development, Sainsbury's has agreed that Farepak customers can get 25% of the value of their savings in Sainsbury's vouchers."

full story here

Good on the companies that are helping, but I think 250k is a drop in the ocean to Tesco

Sainsburys 25% is crap aswell

I think the Sainsbury 25% could end up being a lot more than the Tesco 250K - this is cheap advertising for them! but at least something has been started

Yes, to them its all about the good PR.

They don't have to do anything but if those two are involved the other big chains will probably want a bit of the good publicity so it is likely that they will all contribute something and that has to be a good thing.

And if the MD of Farepack is doing anything on Christmas day other than handing out Xmas dinners to homeless people he should rot in hell

Yep, gets it moving, and gets people donating. Its also exactly the kind of thing companies will want to be associated with, especially at christmas time, so hopefully they will get lots of donations.

Camernera. If he was the kind of person who felt any kind of guilt/responsibilty they would have stoped taking peoples money when they realised they were in trouble!!!

Well if that's not enough maybe you'd rather they just didn't bother It's not their responsibility, they don't have to do anything.

I would like to see the bastards who ran Farepak giving up some of their own money though. There was a quote on You and Yours yesterday from the company's bank - HBOS I think - whingeing about having done all they could to help the company keep going. Pity they didn't pull the plug on them sooner, hey? But maybe HBOS were doing v nicely in interest charges?

No Janh, I am saying well done even a small amount is something

And yes Farepak should be held responsible. I wouldnt be suprised if the MD of the company pops up in some other high paying job soon

listen again

I just found this bit from Guardian Business on Oct 30.

Frank Field is such a sound bloke! I hope if HBOS won't pay all that money back voluntarily that the Govt will fine them an amount which will recompense every single customer.

I just wonder how you get so insulated from the real world that you don't think of the consequences for real people! Its shocking behaviour from all of them!!!

i odnt see hwy peopel should step in fgs
i htink tis ODD
OK so you choose to put money in a ropey scheme rahter htan a bank that si no t certified ata ll - its liek saying" oh b poor old blogsy put his money in his garden shed and OH LOOK its been stolen"

SILLy financial planning

my friend lost £800

she works for marks and spencer too, she could have put it in their saving scheme

or any supermarket

stupid
or a BANK fgs

why do these poepl need reimbursing?

infantilising of poepl imo
lettign them balme everyone else for their own lack of nouse

That's a bit snotty, Cod!

Of course they would all have still had their money and got a better return if they'd put it into a savings account or something - but then they might have got it out again in an emergency and not had the money for Christmas; they preferred to do it this way and not be able to get at it.

This company had always been fine before, and it wasn't Farepak that went wrong now, it was its parent company that swallowed up the money.

yes BUT Jamh this is where it annoys me
they are ADULTS they nee to be able to NOT take their money out not have to rely on someone else stoppoign them

But this is saving, and in a way that they can't then spend it on anything else before christmas.

i have used Park before for vouchers. squirral a small amount a way a week, you can get at it, then you get the vouchers at the end for shopping so you cant spend it on bills. worked out well.

these people have been paying into a scheme with a well-established company, many had been using them for years. now they are up sht creek without a paddle and looking at a shtty xmas because the company has gone under.

They thought it was safe! And they have been shafted by HBOS, basically - maybe they should put their money in an HBOS account now.

i find the idea of scrimping and saving and doing withouot all year just to buy hundreds of toys food and booze for one day a year quite strange actually

save a but yes but dont sacrifice all year

a comany not finacnially regulated at all
STIPUID

can't get at it even.

cod, even emergency crop up and some people will use their savings and then not have anything left for xmas.

a dn agree iwht anailey
if oyu ahev nothign but are ready to BLOW £800 on christmas you REALLY neeed to look at your psenign prirorities