Farepak debacle

headlamp · World Chat Champion Joined: 26 Nov 2003 Karma :

Farepak is/was the modern equivalent of the 'tally' shop. I worked in the last one that existed in the East End of London in the 70's. Basically the people that came in were the poorest sections of society (in the poorest Borough in the UK). They bought clothes on hock & depending how much they could afford to pay back a week depended on how much the clothes cost. A 'tally' man would go round every week and pick up the money from the person until it was paid off.

Farepak's customers gave the distributor 'x' amount a week who would send the money off to Farepak. A lot of these people are either financially 'illiterate', don't have a bank account or see it as a way to put their money away beyond temptation for Xmas. We contributed £50 to the fund as I can imagine that these people affected by the collapse of Farepak will have a bleak and miserable Xmas. I don't believe that the CEO put a penny into the fund through 'annonymous third parties' and I hope, he will be called to account for his actions that has blighted the lives of the most vulnerable in society.
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