Xmas cancelled for Farepak customers

Mancie · 20-11-2006, 19:28

How can it happen that a company can take payment for goods and when the last instalment is paid declare they have gone bust? This is not a case were some Arthur Fowler nicks the Christmas pot, we’re talking about £40 million taken from 150,000 depositors.
It seems incredible that there are no laws or guarantees in place to secure payments made on such a massive scale.

The people who have been paying into Farepak have not gambled or dabbled on the stock market they are simply paying up front for Christmas hampers gifts and shopping vouchers. Of course it is families on lower than average incomes that have been stung , its heartbreaking to see parents interviewed on the news and no one, rich or poor should be ripped off like these people have been.

If an individual stole the money taken from families trying to make Christmas less of a financial burden they would certainly face a prison sentence, will the directors or owners of Farepak get the same punishment? I very much doubt it!

flashy · 20-11-2006, 19:45

i lost £200 through farepak, it was on the news the other day that we will be lucky if we get 2p back for every pound we put in, hmmm i'm going to do a lot with £4 aren't i

Sparkologist · 20-11-2006, 19:57

I will probably get shot down for making this next statement... I have no sympathy.
Why? Because it is financial naievity to line the pockets of these people throughout the year, on a weekly or monthly basis.

Open a savings account at the bank, and put away the same amount every week, or month, that you would with the hamper company. When you eventually draw on the savings, you will have accrued some interest, that goes in your own pocket, not Farepak's back sack!

junetta · 20-11-2006, 20:07

I feel that you are a little wrong there Sparkologist. If you are on limited income and you put so much a week in the bank, the first thing you do when junior needs a pair of new shoes is to draw it out. Been there and done it.

People have trusted this firm, knowing that they can´t get at their cash until Xmas. It makes me really angry.

Gayle · 20-11-2006, 20:14

Yeah, Sparksologist, sometimes it's easier to save to something like Farepak rather than the bank. It's sort of a committment thing. For instance, if you were to put £2 a week away into a bank account it would be easy to miss a couple of weeks and then another couple and then you'd be so far behind you wouldn't have anything for Christmas. With Farepak or some other scheme like that you have to pay your £2 because you're committed to it.

panther · 20-11-2006, 20:14

Quote:

Originally Posted by Sparkologist

I will probably get shot down for making this next statement...

Open a savings account at the bank, and put away the same amount every week, or month, that you would with the hamper company. When you eventually draw on the savings, you will have accrued some interest, that goes in your own pocket, not Farepak's back sack!

thats what im gonna do next year!! in case the firm im with does exactly the same!

Doug · 20-11-2006, 20:16

It is a contentious subject, I have every sympathy to those who have lost money over this and I wish them well and I hope time will allow them to get things together before the day. It’s the kids, lone parents and not least the elderly I feel for. Again it’s the most vulnerable that suffer. I have used this firm in the past, but was never impressed with the goods. I can understand both points of view, but it won’t help the real victims of this.

junetta · 20-11-2006, 20:24

I remember that my mum couldn´t have got through Christmas without paying into the club at the local shop. Mrs Hickey´s half way down Holland Street.

They must have known things were about to go belly up.........there are some really bad folk in this world.

Ianto.W. · 20-11-2006, 20:34

Quote:

Originally Posted by Gayle

Yeah, Sparksologist, sometimes it's easier to save to something like Farepak rather than the bank. It's sort of a committment thing. For instance, if you were to put £2 a week away into a bank account it would be easy to miss a couple of weeks and then another couple and then you'd be so far behind you wouldn't have anything for Christmas. With Farepak or some other scheme like that you have to pay your £2 because you're committed to it.

THe way the likes of Fairpack look at it is this, if your friend is collecting the money 'vanity' or so called self respect will not allow you to miss an installment, they prey on the weakness of the poor and should be stopped.

Sparkologist · 20-11-2006, 20:44

I don't see it as vanity, I see it as a matter of willpower.

When I was a kid, my mum looked after all the financial matters in the household. The only thing my dad got to spend his money on was his beer and the occaissional saturday investment of the equine kind. My mum would never go into the red. She had a simple rule,"If the money isn't there, you can't spend it." My sister and I didn't miss out on anything, but we learnt the value of money.
I know Lettie has the same values as I, with regards to money, which was handed down to her by her dad.

Ianto.W. · 20-11-2006, 20:53

#10 Today, 20:44
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Re: Xmas cancelled for Farepak customers

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[quote sparkologist]
I don't see it as vanity, I see it as a matter of willpower.

When I was a kid, my mum looked after all the financial matters in the household. [/quote]These things did not exist in our day,yes it was personal pride. I/we did not live in a consumer dominated society and were not exposed to the temptations that went with it.

Mancie · 20-11-2006, 20:59

Quote:

Originally Posted by Sparkologist

I will probably get shot down for making this next statement... I have no sympathy.
Why? Because it is financial naievity to line the pockets of these people throughout the year, on a weekly or monthly basis.

Open a savings account at the bank, and put away the same amount every week, or month, that you would with the hamper company. When you eventually draw on the savings, you will have accrued some interest, that goes in your own pocket, not Farepak's back sack!

Hang on.. we are talking about people paying for goods they are not going to get.. they have PAID!, its no different than buying and paying for items my mail order with your a card or by cash.. only for the the company to then tell you they will not give you what you purched and futhermore will keep your money. Farepak customers have not bought stuff on HP.. to make out its the niaveness of these families is wrong.. they have been mugged pure and simple.

MUMMIBOO · 20-11-2006, 21:13

This is not the first time this has happened!this is not a new thing but you would think so the papers the media it was only about 7-8 months ago i lost £1399 on a tv to time/tiny where i paid and then they went bust and we didnt get the tv or the money back fair enough it wasnt xmas money we had been saving but it was money we didnt have we had got a bank loan to pay the money for the telly and when we didnt get the telly we still had to pay the money for the telly.

Before that there was a sofa company that went bust and people didnt get the sofas that were on order and paid for but still this thing can happen its only now that Farepak have gone bust that things have just come to light if more had been done by they polititians who are now all of a sudden soo het up about it then these people wouldnt be in this predicument!

MUMMIBOO · 20-11-2006, 21:15

Quote:

Originally Posted by Mancie

Hang on.. we are talking about people paying for goods they are not going to get.. they have PAID!, its no different than buying and paying for items my mail order with your a card or by cash.. only for the the company to then tell you they will not give you what you purched and futhermore will keep your money. Farepak customers have not bought stuff on HP.. to make out its the niaveness of these families is wrong.. they have been mugged pure and simple.

If you pay for things by credit card and dont get the goods paid for you would be covered by the card ( i understand you cant pay Farepak this way) but under normal circumstances that would apply.

jimmi5bellies · 21-11-2006, 10:39

I bet they are back again next year trading under a different name.