Ten things you need to know about ...

Ten things you need to know about ...

1. The Swindon-based firm that ran a Christmas savings scheme has gone into administration. It is insolvent and cannot afford to pay suppliers or customers.

2. About 150,000 people have lost a total of about £27m to £50m. The average loss is thought to be around £500, although some families have lost thousands.

3. Farepak customers should cancel any direct debits to the company and stop paying any more money to its agents.

4. They will need to notify the administrators, BDO Stoy Hayward, of their claim.

5. Details of how to claim via the administrators can be found at farepak.co.uk or by calling 0870 0669826.

6. The company will not be sending out any of the hampers, vouchers or gifts it owes.

7. If you paid with a Visa debit card, ask your bank to start a Visa chargeback against Farepak's bank. If you paid over £100 on a credit card you should be entitled to a refund from your card company.

8. Both Sainsbury's and John Lewis have said that customers saving for their vouchers can get back 25 per cent of the value of their savings. You need to apply for this via your Farepak agent.

9. A fund has been set up to help compensate those who had lost money. Details of the Farepak Response Fund.....continued below

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can be found at farepakresponsefund.org.uk

10. Goodwill payments from the fund, in the form of vouchers, will be distributed directly to Farepak agents by no later than the 18 December.

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