It’s not fair
The collapse of Farepak has had widespread repercussions and I suspect we will all know of someone who has lost their investment, some having lost a considerable amount. The current advice being broadcast on the news is avoid getting loans from those whose interest rates are exorbitant and decide to have a simpler, less elaborate Christmas. It seems like good advice but how easy will it be to heed?
There is no disguising how disappointed and upset investors will be to realise that it is unlikely they will see their money again and it may be difficult for them to perceive that the situation offers an opportunity to them that others will miss because they are under less financial constraints.
Indeed perhaps the situation is a challenge to us all to make more of less. It may sound trite, but perhaps those who haven’t been directly affected by Farepak’s demise need to be more disciplined in deliberately not spending excessively this Christmas. In fact would it not be an act of Christ-like behaviour to plan to spend less and share what we save with those who have suffered this significant financial loss, and give to those organisations which relieve the suffering of the wider world’s poor?
Helpful links
If you have been affected by the Farepak collapse or would like to help those affected:
- Farepak Response Fund
- unFairpak.co.uk
- Advice on Debt from Keith Tondeur, speaker at BiG in May 2006
- Credit Action - for online debt advice; alternatively call 0800 138 1111
Alternative Christmas gifts: