FarePak Customers
25 November 2006, 09:28 AM
#1
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FarePak Customers
Today Max Clifford is putting his PR weight behind calls for big business to bail out FarePak Customers.
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
25 November 2006, 09:42 AM
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Originally Posted by pslewis
Today Max Clifford is putting his PR weight behind calls for big business to bail out FarePak Customers.
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
25 November 2006, 09:45 AM
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farepack is unlike a b or bs, once the money is in you cant get it out.... and its use is soley for chrimbo.....
aand given farepak was a large multinational, they felt safe doing it... after all farepack had been doing this for years...
look at the sector it serves pete!
Mart
aand given farepak was a large multinational, they felt safe doing it... after all farepack had been doing this for years...
look at the sector it serves pete!
Mart
25 November 2006, 09:50 AM
#6
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Originally Posted by _RIP_
I thought this scheme was for those people with very low incomes i.e. without bank accounts. I seriously doubt many were paying in £30 per week.
And, if not, I'm sure they can get down to the Post Office to collect benefits and their Scratchcards? So they can open an account!
Even pensioners need to get to the post office or have bank accounts?
30 years ago, my mother-in-law used to pay money over the bar at the loacl pub into a Xmas Club .......... I found that astonishing then too - not sure if it is just a lack of education? laziness?
25 November 2006, 09:52 AM
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Originally Posted by _RIP_
I thought this scheme was for those people with very low incomes i.e. without bank accounts. I seriously doubt many were paying in £30 per week.
Yes,some people with very low incomes dont have bank accounts or have limited facilities which means that the banks sometimes charge per transaction so if you are putting £5 in and the bank is charging £1.50 per transaction you lose 30% of every pound saved.
Yes there are better ways,but some do not have the chance to partake in these schemes.
The banks that have paid some percentage back from the money lodged with them say that the money did not attract interest in the accounts while it was on deposit
Where did it go then?
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25 November 2006, 10:01 AM
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Originally Posted by pslewis
They MUST have Bank Accounts these days ... it is how Tax Credits and Benefits are now paid (I think?)
And, if not, I'm sure they can get down to the Post Office to collect benefits and their Scratchcards? So they can open an account!
Even pensioners need to get to the post office or have bank accounts?
30 years ago, my mother-in-law used to pay money over the bar at the loacl pub into a Xmas Club .......... I found that astonishing then too - not sure if it is just a lack of education? laziness?
And, if not, I'm sure they can get down to the Post Office to collect benefits and their Scratchcards? So they can open an account!
Even pensioners need to get to the post office or have bank accounts?
30 years ago, my mother-in-law used to pay money over the bar at the loacl pub into a Xmas Club .......... I found that astonishing then too - not sure if it is just a lack of education? laziness?
25 November 2006, 10:03 AM
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Lack of self control probably comes into it.
Also - I would Assume - That Farepack negotiates with it's suppliers for a better deal than just turning up.
Not Sure though.
If the prices aren't better, no intrest and no protection then I too am
.
Also - I would Assume - That Farepack negotiates with it's suppliers for a better deal than just turning up.
Not Sure though.
If the prices aren't better, no intrest and no protection then I too am
.
25 November 2006, 11:00 AM
#10
Xmas clubs used to be popular in Australia/NZ, but quite often it was a bank offering it and quite a good idea because low income families do get hit at Xmas pretty hard. They used to start you off in Jan/Feb and then release the cash in December.
25 November 2006, 11:11 AM
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It was a traditional way of saving for Christmas from a long way back. You used to get discount on items you bought through the company as well.
It is wrong that such a company can exist when it has effectively stolen the money from the customers who trusted the firm, in order to pay the debts of another firm which was part of the whole company. That money should have been ringfenced for the customers of Farepack.
Les
It is wrong that such a company can exist when it has effectively stolen the money from the customers who trusted the firm, in order to pay the debts of another firm which was part of the whole company. That money should have been ringfenced for the customers of Farepack.
Les
25 November 2006, 11:31 AM
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The reaction to the farepack closure by the british media and politicians is an absolute disgrace and is another reason to be ashamed to be british.
Businesses go under all the time, pension schemes get decimated and what happens? Nothing. Perhaps a bit of sympathy from all and not much more.
It is sad that these plebions wont get the voucher ridden cheap chutney xmas they were saving for but at least they havent lost their jobs etc... They can make something of it after all Farepack went wollop weeks ago... Plenty of time to tell little Tim Cratchitt that this xmas will be more about religion than being showered with gifts
<climbs down off soap box>
Businesses go under all the time, pension schemes get decimated and what happens? Nothing. Perhaps a bit of sympathy from all and not much more.
It is sad that these plebions wont get the voucher ridden cheap chutney xmas they were saving for but at least they havent lost their jobs etc... They can make something of it after all Farepack went wollop weeks ago... Plenty of time to tell little Tim Cratchitt that this xmas will be more about religion than being showered with gifts
<climbs down off soap box>
25 November 2006, 01:35 PM
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The sad thing about the Farepack situation is that those people who tried to avoid getting into debt with loans & credit cards are the ones loosing out.
I was amazed to find out this type of thing isn't regulated by a body such as the FSA.
It also amazes me when people call on the likes of Tesco or Sainsbury to bale these people out. Why? Farepack customers weren't going to spend their money with these companies, so why should they be obliged to help them out?
I was amazed to find out this type of thing isn't regulated by a body such as the FSA.
It also amazes me when people call on the likes of Tesco or Sainsbury to bale these people out. Why? Farepack customers weren't going to spend their money with these companies, so why should they be obliged to help them out?
25 November 2006, 02:03 PM
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My sister was one of those who lost money with FarePak. To be honest I agree with most of whats been said in this thread and I did warn her at the start of the year that these types of company have a habit of hitting financial difficulty when it comes time to pay. I know of three in the last five years....................
I do feel a bit sorry for her. She's useless with money and has recently moved out to rent with friends. No doubt has a bit of debt around her neck as well and I guess she thought it was a good way of ensuring xmas was taken care of. In hindsight she wishes she'd have taken me up on the offer of me holding her monthly contributions until December.
I'm at a loss. There's no incentive with the scheme although the vouchers can be spent at a number of different outlets Pete. Initial dividend prospects were five pence in every pound.
I'm grateful of the publicity with this one tbh. I bet less people will choose to save in similar schemes next year.
I do feel a bit sorry for her. She's useless with money and has recently moved out to rent with friends. No doubt has a bit of debt around her neck as well and I guess she thought it was a good way of ensuring xmas was taken care of. In hindsight she wishes she'd have taken me up on the offer of me holding her monthly contributions until December.
I'm at a loss. There's no incentive with the scheme although the vouchers can be spent at a number of different outlets Pete. Initial dividend prospects were five pence in every pound.
I'm grateful of the publicity with this one tbh. I bet less people will choose to save in similar schemes next year.
27 November 2006, 09:58 AM
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Originally Posted by Huw Jorgan
It also amazes me when people call on the likes of Tesco or Sainsbury to bale these people out. Why? Farepack customers weren't going to spend their money with these companies, so why should they be obliged to help them out?
Obviously feel sorry for them, but don't see why anyone else should bail them out.
27 November 2006, 10:21 AM
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Originally Posted by pslewis
They MUST have Bank Accounts these days ... it is how Tax Credits and Benefits are now paid (I think?)
And, if not, I'm sure they can get down to the Post Office to collect benefits and their Scratchcards? So they can open an account!
Even pensioners need to get to the post office or have bank accounts?
30 years ago, my mother-in-law used to pay money over the bar at the loacl pub into a Xmas Club .......... I found that astonishing then too - not sure if it is just a lack of education? laziness?
And, if not, I'm sure they can get down to the Post Office to collect benefits and their Scratchcards? So they can open an account!
Even pensioners need to get to the post office or have bank accounts?
30 years ago, my mother-in-law used to pay money over the bar at the loacl pub into a Xmas Club .......... I found that astonishing then too - not sure if it is just a lack of education? laziness?
Not everybody has a bank account - I know somebody without any kind of account or even credit card...
27 November 2006, 11:48 AM
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If you stick it in a bank account, when your feeling a bit skint round june time, you can go and raid the christmas fund. With farepak, you can't. You have to remember, these schemes aren't aimed at people who have good credit ratings, a decent job and no problems with saving, its aimed at low income families who aren't good with money.
27 November 2006, 11:50 AM
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Not sure if this has been covered already....
We paid ours via an agent who paid in the total saved amounts via a credit card, the bank have coughed up all monies paid due to not being in recipt of any goods.
Surely there are others outhere who will fall into this bracket.
We paid ours via an agent who paid in the total saved amounts via a credit card, the bank have coughed up all monies paid due to not being in recipt of any goods.
Surely there are others outhere who will fall into this bracket.
27 November 2006, 12:42 PM
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Not everybody has a bank account - I know somebody without any kind of account or even credit card...
But there can be very little reason at all not to have an account these days.
27 November 2006, 12:45 PM
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no PSL, I totally agree..mind you it gets spent on **** and booze 
Originally Posted by pslewis
Today Max Clifford is putting his PR weight behind calls for big business to bail out FarePak Customers.
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
I have a relatively open mind to this, as a big company could get some excellent PR if they stepped in.
BUT, I have serious issues about the intelligence of people who pay weekly into a club, with no interest paid and no protection!? With the additional boulder round the ankles of having to buy goods from one catalogue?
If they can afford to pay, say, £30 a week into FarePak ..... what is the problem with paying £30 a week into a Bank or the Post Office?? They will earn interest and it will be protected and they can buy goods wherever they see them rather than from one catalogue??
It beggars belief .... or am I alone in my confusion??
27 November 2006, 01:10 PM
#26
Originally Posted by lozgti
All company directors should have personal liability.
Director protection is a joke.They should suffer alongside customers,not get away scot free
Director protection is a joke.They should suffer alongside customers,not get away scot free
However there are certainly enough provisions to make the directors liable if there was any mismanagement.
27 November 2006, 01:18 PM
#27
No company is obliged but for a relatively small ammount they could buy some very positive PR, they spend that kind of money on a few days TV ads. I just think it would be nice to see big business do something selfless for once as I see Tesco has turned into quite an aggressive corporate monster. Makes you wonder how companies get quite that big and powerful yet still put very little back into the community, it surely cannot be all about money can it ?
Farepack customers should have roast Farepack Director for Christmas, its only fitting.
Farepack customers should have roast Farepack Director for Christmas, its only fitting.
27 November 2006, 01:25 PM
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I see Tesco has turned into quite an aggressive corporate monster. Makes you wonder how companies get quite that big and powerful yet still put very little back into the community, it surely cannot be all about money can it ?
The only measure of success recognised by the market is Money. Its not a charity measured on "good deeds". I no more expect Tesco to help, than I expect my local corner shop (which I support when i can by not going to Tesco for everything) to chip in a few quid.
27 November 2006, 01:31 PM
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There really is no pleasing most people on here is there? 
Usually the NSR elite are busy getting stuck into those who are irresponsible enough to run up huge debts etc.
Now they're laying into those people who have had enough common sense and responsibility to save towards Christmas - because it falls short of the NSR standards of savings investments.
Maybe Farepak isn't the best place for their money - but then maybe they weren't bought up in a financially aware household - but they made the best decision they could - and then got screwed for it.
Be grateful for what you have - and be glad that your entire christmas didn't just vanish in a puff of smoke. I hope someone bails out the guys that lost their money - whether they get good PR out of it or not.
Usually the NSR elite are busy getting stuck into those who are irresponsible enough to run up huge debts etc. Now they're laying into those people who have had enough common sense and responsibility to save towards Christmas - because it falls short of the NSR standards of savings investments.
Maybe Farepak isn't the best place for their money - but then maybe they weren't bought up in a financially aware household - but they made the best decision they could - and then got screwed for it.
Be grateful for what you have - and be glad that your entire christmas didn't just vanish in a puff of smoke. I hope someone bails out the guys that lost their money - whether they get good PR out of it or not.
27 November 2006, 01:44 PM
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Originally Posted by Drunken Bungle *****
There really is no pleasing most people on here is there? Usually the NSR elite are busy getting stuck into those who are irresponsible enough to run up huge debts etc.
Now they're laying into those people who have had enough common sense and responsibility to save towards Christmas - because it falls short of the NSR standards of savings investments.
Maybe Farepak isn't the best place for their money - but then maybe they weren't bought up in a financially aware household - but they made the best decision they could - and then got screwed for it.
Be grateful for what you have - and be glad that your entire christmas didn't just vanish in a puff of smoke. I hope someone bails out the guys that lost their money - whether they get good PR out of it or not.
Usually the NSR elite are busy getting stuck into those who are irresponsible enough to run up huge debts etc. Now they're laying into those people who have had enough common sense and responsibility to save towards Christmas - because it falls short of the NSR standards of savings investments.
Maybe Farepak isn't the best place for their money - but then maybe they weren't bought up in a financially aware household - but they made the best decision they could - and then got screwed for it.
Be grateful for what you have - and be glad that your entire christmas didn't just vanish in a puff of smoke. I hope someone bails out the guys that lost their money - whether they get good PR out of it or not.
