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

emilyj

At http://www.unfairpak.co.uk they are collating a list of which MP's have been contacted, which are supportive, and which have not responded.

alwaysbusyMUM

I've got an account with the halifax, I started 18mths ago under the govements gateway scheme, I managed to put £20 a month in there, without touching it, wasnt allowed for the 18mths, or I'd lose the money the gov' would match, some new pension thing I think they were trialing, any way - that's where my crimbo money is going for next year, forget any shop whoever they are, my cash is going where i can check it still is, when i need it, no one will be sitting on a beach with my money next chrsitmas thats for sure.

And as for Kleeneze - rumours are that their suppliers have still not been paid
so don't order anything from their catalogue, because you won't get it, I have friends who placed orders over 3mths ago for some exclusive Xmas product & their still waiting.

Sparkly

I'm seeing the 'goodwill' gesture reported a lot in the news, but no real detail to it. I do hope that it's not just empty words from government ministers, MPs and trade associations grabbing positive press whilst the story is still being reported, then nothing concrete happening once the fuss has died down. Some people seem to be under the impression that they are getting back a substantial amount of the cash they've lost, but I'd be surprised if the shops will stump up anything close to the £30-60million(?) lost by savers. Hopefully some details will appear soon and stop me from being so cynical!

Sparkly

alwaysbusyMUM wrote:

I've got an account with the halifax, I started 18mths ago under the govements gateway scheme

The Savings gateway is being piloted in different areas with different rules, but I don't think they are accepting any new accounts. No news yet on if they are going to extend the scheme. It looks a great idea for people who struggle to save.

http://www.direct.gov.uk/MoneyTaxAndBenefits/ManagingMoney/SavingsAndInvestments/SavingsAndInvestmentsArticles/fs/en?CONTENT_ID=10010450&chk=U09/4C

http://www.hm-treasury.gov.uk/documents/financial_services/savings/topics_savings_gateway.cfm

kez_s

Sparkly wrote:

I'm seeing the 'goodwill' gesture reported a lot in the news, but no real detail to it. I do hope that it's not just empty words from government ministers, MPs and trade associations grabbing positive press whilst the story is still being reported, then nothing concrete happening once the fuss has died down. Some people seem to be under the impression that they are getting back a substantial amount of the cash they've lost, but I'd be surprised if the shops will stump up anything close to the £30-60million(?) lost by savers. Hopefully some details will appear soon and stop me from being so cynical!

You're not the only one, at the moment its all words and with only just under 9 weeks till Christmas day something needs to be definite soon or at least give those an idea of what will happen, as so many are still panicking about what to do and it concerns me that some will take out very expensive loans.

michjoe

NEWS STORY

FAREPAK CUSTOMERS – BRC STATEMENT
October 23, 2006

Our retail members have the greatest sympathy for all those affected by the collapse of Farepak.

They agree that, while the circumstances surrounding Farepak are not in any way of their making, they are concerned about the impact on the families affected and are in ongoing discussions with the BRC to find a practicable way of making a goodwill gesture to help them.

At this stage our retail members are unable to make specific commitments but this would be a goodwill gesture not a compensation scheme. The BRC is gathering more information, on the numbers of customers affected, the types of products and services that have been ordered, customer records and other relevant information.

The BRC is also exploring, with the Department of Trade and Industry (DTI) and the administrators of Farepak, how to target affected customers to ensure any support reaches them.

We recognise the urgency of the issue and will continue to liaise with the DTI and the administrators before making an appropriate response.

Just heard on the radio about a good will gesture from the British Retail Consortium so I went on the website https://www.brc.org.uk and found this. :T

alfiebilly0

Hi i went to comet today to look at laptops, while there i thourght id speak to the manager regarding a discount, as my vouchers would of been spent there, and now i can go anywhere.He came back to me and said that comet had pledged to give money to the farepk customers, he didnt know how much but thourght it was a large amount.

trisontana

The government are to start an urgent investigation of Farepak. Story here :-
http://www.thisismoney.co.uk/news/article.html?in_article_id=413993&in_page_id=2&ito=1565

moosetastic

rickuk99 wrote:

Ok we all know why the hamper scheme was so popular and that none of us well ever use one again, however what other options do we have to save all year and not have the temptation to dip in to those savings until Christmas?

What is the real benifit to you all, I presume most people went for the vouchers so we can let the kids look at argos etc and then go and buy what they really want.

Why not cut out the middle man, if enough people are interested mybe stores like argos, woolworths, M&S may allow us to save direct much in the same way you can with Tesco's etc. Maybe a goverment run savings scheme may be an answer.

I would be very interested in all your thoughts,

next year I will be going to shops individually and buying so many gift voichers at the end of the month.

woolworths do a christmas card saving scheme thing, like a gift card, so will probably get one of those, and similar from boots and argos.

Ruby_Pudding

It's on Watchdog right now!