Farepak in administration: What to do? (Merged Thread)

Phatmouse

islandannie wrote:

I think you miss the whole point of saving for vouchers.

It is precisely to avoid debt and i for one consider that spreading the cost of Christmas over a year is prudent and sensible.

Prudent and sensible would be to put the savings somewhere it would actually make you money throughout the year and give you more scope on where you spend it. I was not questioning you right to do so though.

Thats not the point anyway all I was saying is that black saturns question was a fair one, it was one a lot of people will have been wondering about. A lot of people are describing themselves as being at the 'poorer end of the market', how/why then do they spend thousands on one day of the year that is actually a religious festival which has been around far longer than pounds and pence.

It does not however deter from the fact this is a dreadfull situation, those involved must feel really cheated. I would feel robbed and even lost. I can not even being to imagine the dispair and if there was anyway I could fix it for everyone I would do it in a second.

I wish you all the very best and hope that you get some kind of resolve before christmas I certinley did not mean to add to anyone misery and I apologise if I did.

max06

This is new on the Farepak website:-



It is the intention of the Joint Administrators to use this website as a way of updating all customers and agents affected by the Administration. The website will next be updated on Friday 20 October 2006.

In the meantime please send notice of any claim you may have:


By post - Kings Wharf, 20-30 Kings Road, Reading, Berkshire. RG1 3EX

By Email - please complete the attached form

By fax - 01793 606057

---

james10999

I feel sorry for the people this effects, this must come as a total shock and is totallu unpredictable. I hope you all follow some of Martins tips to make christmas more affordable.

however....

Why? Why oh Why put money in this company?! I really can't understand it
Basically you have two options:

Farepack
0% savings scheme, can only be spent on the high street

Savings account
5%+ interest, can be spent anywhere.

The only reason I can think of is that people would be tempted to take the money out, but to be fair, if your tempted to be taking money out you shouldn't be putting as much money into getting vouchers for christmas and thus getting into debt. Seems VERY silly to me this vouchers scheme.

Can anyone who used the scheme explain why they decided to purchase these vouchers as I see no benefit at all and you could have made much more money with a save savings account

looby75

I used the vouchers because it was just something we always did in our family, my nan ran a hamper for years then when she packed in a friend of the family (the one I posted about before) took over so we all just started saving with her.

I did find it easy to hand £10 a week over to her and just forget about it, I have found it harder to not dip into my savings now they are there looking at me every time I log on to my online banking. Now if I see something in the shops that I really want (or a good offer in the grabbit boards lol) I am tempted to dip into my savings to give myself or the kids an "early Christmas present" or I think oooh I can put an extra couple of quid in a week and make up what I've borrowed. I never do though so this year I'm about £100 down on where I should be. It's about self control, and I haven't got a lot of it LOL

trisontana

If you are tempted to take the money out, then open something like a 60-day notice account. That will take away the temptation.

Tildy_2

michjoe wrote:

Is there anyone out there who works for farepak who has any comments on the situation, I don't mean the management I mean warehouse staff etc. Was there any indication that anything bad was going on when no stock was coming into the warehouse, as I presume it would come into the warehouse before now.

Damn good idea we need feed back from the staff. Is there any staff still working there or did they get advanced notice that they were getting finished, was redundancy offered or paid. We need answers

burbs_2

james10999 wrote:

I feel sorry for the people this effects, this must come as a total shock and is totallu unpredictable. I hope you all follow some of Martins tips to make christmas more affordable.

however....

Why? Why oh Why put money in this company?! I really can't understand it
Basically you have two options:

Farepack
0% savings scheme, can only be spent on the high street

Savings account
5%+ interest, can be spent anywhere.

The only reason I can think of is that people would be tempted to take the money out, but to be fair, if your tempted to be taking money out you shouldn't be putting as much money into getting vouchers for christmas and thus getting into debt. Seems VERY silly to me this vouchers scheme.

Can anyone who used the scheme explain why they decided to purchase these vouchers as I see no benefit at all and you could have made much more money with a save savings account

To be honest i think your post is completly pointless at a time like this for people who have lost money and literally had their Xmas thrown into chaos.

What if they had put the money into savings blah blah blah. All very well with what ifs but at the end of the day these people decided to save for hampers for reasons which are personal to their circumstances and now isnt really the time or place to point out where they should have been putting their money!!

looby75

trisontana wrote:

If you are tempted to take the money out, then open something like a 60-day notice account. That will take away the temptation.

but then I'd miss out on all the good stuff on the grabbit board :rotfl: :rotfl: :rotfl:

Rubyru_3

james10999 wrote:

I feel sorry for the people this effects, this must come as a total shock and is totallu unpredictable. I hope you all follow some of Martins tips to make christmas more affordable.

however....

Why? Why oh Why put money in this company?! I really can't understand it
Basically you have two options:

Farepack
0% savings scheme, can only be spent on the high street

Savings account
5%+ interest, can be spent anywhere.

The only reason I can think of is that people would be tempted to take the money out, but to be fair, if your tempted to be taking money out you shouldn't be putting as much money into getting vouchers for christmas and thus getting into debt. Seems VERY silly to me this vouchers scheme.

Can anyone who used the scheme explain why they decided to purchase these vouchers as I see no benefit at all and you could have made much more money with a save savings account

i know your intentions are good but do you not think with some people it is the discipline of having to pay the money every month that makes them do hamper vouchers.It is easy to say put x amount into a savings account but if something else takes your fancy its even easier to spend the money you are meant to be saving.I have done schemes like this before and found them really helpful .The incentive of knowing that no payments or irregular payments would not give me what I wanted.

People really don't need chasitising and negativity at this time.

I wish i could wave a wand for you all.

hugs to you all (((())))))

max06

james10999 wrote:

I feel sorry for the people this effects, this must come as a total shock and is totallu unpredictable. I hope you all follow some of Martins tips to make christmas more affordable.

however....

Why? Why oh Why put money in this company?! I really can't understand it
Basically you have two options:

Farepack
0% savings scheme, can only be spent on the high street

Savings account
5%+ interest, can be spent anywhere.

The only reason I can think of is that people would be tempted to take the money out, but to be fair, if your tempted to be taking money out you shouldn't be putting as much money into getting vouchers for christmas and thus getting into debt. Seems VERY silly to me this vouchers scheme.

Can anyone who used the scheme explain why they decided to purchase these vouchers as I see no benefit at all and you could have made much more money with a save savings account

hindsight is a wonderful thing!!!