FAREPAK-Patronising

shinkyshonky

Hi All

First of all , I feel sorry for all the people who lost money on this.

But what has vented my spleen even more, is to hear two people being patronising about farepak savers, i.e refer to the interview on bbc breakfast news this morning

regarding eve pollard and the geezer who own`s motley fool

Eve pollard-these people don`t read the business news and their one treat is christmas-this was the least patronising comment

Motley fool geezer-these people made a mistake by saving with farepak-then bigs up his own website, saying if only people had saved with their building society, bank etc

just thought I`d vent my spleen, also good article in private eye, I`ll try and scan it in

looby75

shinkyshonky wrote:

Hi All

First of all , I feel sorry for all the people who lost money on this.

But what has vented my spleen even more, is to hear two people being patronising about farepak savers, i.e refer to the interview on bbc breakfast news this morning

regarding eve pollard and the geezer who own`s motley fool

Eve pollard-these people don`t read the business news and their one treat is christmas-this was the least patronising comment

Motley fool geezer-these people made a mistake by saving with farepak-then bigs up his own website, saying if only people had saved with their building society, bank etc

just thought I`d vent my spleen, also good article in private eye, I`ll try and scan it in

I saw that as well and I was disgusted too, more so at the motleyfool bloke than Eve Pollard, who I think was quite sympathetic and did raise a few valid points, but as you say was also a bit patronising.

I can't believe the amount of negativity towards the people who have lost out due to farepak, all these people were doing was trying their best to save a bit of money each week towards Christmas. What on earth is so bad about that? I do the same, I choose to put my money in a savings account each week, these people decided they preferred the "security" of giving it to someone else to look after each week so they couldn't dip into it. Each to their own. They have been ripped off and they are not at fault so why are so many people so quick to have a go at them?

dmg24

I am disgusted that the BBC would have the Motley Fool person on - from my experience of them, Motley Fool just appears to be one big spam operation.

I have got every sympathy for those affected by Farepak, nobody outside of the industry knew what was going to happen (I didn't and I thought I was quite up on these things).

A big thumbs up to the retailers that are doing their bit to help. Granted they may be doing it for the PR, but nonetheless they are helping people who would otherwise go without this Christmas.

jillie1974

there's an article on msn as well bout farepak from their money expert guy basically saying all the fuss over farepak is wrong!
do these people actaullay realise what the collapse of farepak means to so many people?

trisontana

All I can say about this is I hope that people have learned a hard lesson and wont trust their money to an unregulated "savings" scheme . I don't think Park Hampers will be getting much custom next year.

I hope that some bank or building society sees a gap in the market and sets up a special Christmas saving account, where the money is "locked up" until December. That way people can save money and be sure of getting it back.

On "Working Lunch" a few days ago they were talking about the many people in this country who are very financially naive. Some people thought that the higher the APR on a loan the better the deal for you, and 50% of the population of this country don't know what 50% means !

Lets hope schools and colleges start to educate our young people about good money management.

lilac_lady

The people who saved with Farepak should be commended for their attempts not to get in debt over Christmas, not made a fool of by the media.

maninthestreet

I watched that interview - the point that was being made was that there is significant advantage in putting your savings with a bank/building society/Post Office. Such an investment is protected under law, and compensation paid, up to 80% of the first £20,000, if the financial institution went out of business. No such protection exists for a saving scheme such as Farepak, which doesnt even pay any interest, if I understood correctly. The Farepak savers have learnt a hard finanicial lesson - why put your money with a company that doesnt pay any interest, nor is it protected if the company goes bust?

astonsmummy

but do you honstly think these people know things like that?
thats what does my head in, when people assume everyone else has a good head on when it comes to money, some dont, so what, do they deseve to be put down because of this?

newmum1

I really do sympathise but everyone keeps saying these people will go without but in reality they wont, some of them have said that they had put£1500 into farepak, now realistially xmas doesnt cost that much and it just means that they may have to watch there spending over xmas without getting into debt. I also understand that maybe the type of people that save with this type of company may not be as such clued up on certain types of financial situations but this will be a lesson albeit a very hard one. The majority of us will have a pretty grand xmas but it will be done the mse way.

astonsmummy

What i think, is that these people feel they need to go all out at xmas as they cant during the year as easily as others, i maybe wrong I personally have spent about £50 on spud this year. he's only 2 and a half so dont really understand, i'm saving me pennies as when he's older he's gonna request things, now he'd be happy with a toy car!

andyrules

I wonder if those being patronising towards the Farepak victims have ever fallen foul of other financial disasters, such as the endowment crisis which was marketed hard by first rate, high street 'safe' building societies. And they are regulated.