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

jazzyjustlaw

diana_woods wrote:

I went into my bank (bank of Scotland/Halifax) on Wednesday and asked them to do a chargeback procedure for me as i paid by Visa Debit and they said they couldn't so came home and after reading this website, i phoned their complaints department to be told by a very helpful guy that they could do a claim for me and that he had just received an e-mail and it wasn't common Knowledge through the banks but as we paid by Visa we were covered under their terms so he filled a form in for me and e-mailed it to the relevant department. He told me he didn't know how long it would take to be credited back but there should be no probs.
I was just a customer who took vouchers for myself and even if i didnt get my money credited back i am of the understanding that the fund wil only distribute to Agents so i'm hoping that i get a credit in my account. I have two little girls looking for santa to come.
I hope that this whole mess sorts itself out and if i have learned anything from this is that i'm as well saving next year in a seperate account for crimbo and to use my credit card.

So if your credit card repays you - where does it get the money from - Farepak?

trisontana

jazzyjustlaw wrote:

So if your credit card repays you - where does it get the money from - Farepak?

No the credit card company has to bear the cost as they are deemed to be as equally liable for the debt as the original company. I know this is a good piece of consumer protection but I have a feeling it can be used as a handy get-out route by companies who won't pay up.

Of course the credit-card company will have to get this money back somehow and they only way they can do it is to increase interest rates and charges. So every customer of the CC company will be paying for the actions of a dodgy company.

davethecue

Hi
Not sure if this is the best place to post this so please move it if it belongs elsewhere
Doesn't affect me but tonight(sunday) on radio five live at 7.00 pm special investigation into why/what happened
Might be of interest to those affected

Redbedhead

I think there is a Farepak thread on the Christmas board - it might be worth posting this on there as well.

davethecue

Redbedhead wrote:

I think there is a Farepak thread on the Christmas board - it might be worth posting this on there as well.

Hi thanx for that. I have done it just now

rog2

davethecue wrote:

Hi thanx for that. I have done it just now

But keep it here as well Dave.:beer:
I think that there may be some surprise revelations. I read, yesterday, that Farepak had asked the banks for help, specifically in regard to protecting the money paid by their customers, and that this was refused. It seems a bit coincidental that the bank in question is now making a 'Grand Gesture' of £2m to the 'fund':rolleyes:

trisontana

Another interesting news article here :-
http://news.bbc.co.uk/1/hi/business/6140660.stm

It's all very well for "Scrooge" Thompson to say the fault lies with the bank .But it was Farepak who used all the saver's money to rescue another company within the EHR group. They should not have done that . The money collected should have been ring-fenced and used for the purpose it was intended for, and not to bail-out another failing company.

trisontana

Sorry if I'm monopolising this thread but I have just found another very interesting news article which mentions a very interesting legal point :-

http://www.thisismoney.co.uk/news/article.html?in_article_id=414574&in_page_id=2&ito=1565

endofmytether_2

Thanx just heard the trailer. apparrently scottish MP is going to be on

michjoe

trisontana wrote:

Sorry if I'm monopolising this thread but I have just found another very interesting news article which mentions a very interesting legal point :-

http://www.thisismoney.co.uk/news/article.html?in_article_id=414574&in_page_id=2&ito=1565

Has anybody used the template letters on the above link? Would it be worth trying them?