The fund set up to compensate people who lost savings in the collapse of the Farepak Christmas saving scheme is due to close at 1800 GMT.
The fund set up to compensate people who lost savings in the collapse of the Farepak Christmas saving scheme is due to close at 1800 GMT.
About 150,000 people are estimated to have lost a total of up to £50m when the firm went bust.
About 150,000 people are estimated to have lost a total of up to £50m when the firm went bust.
So far, the Farepak response fund launched by the government has raised £5.8m from companies and individuals - about 10% of the money lost.
So far, the Farepak response fund launched by the government has raised £5.8m from companies and individuals - about 10% of the money lost.
Organisers aim to deliver the money, in the form of vouchers, before Christmas.
Organisers aim to deliver the money, in the form of vouchers, before Christmas.
Vouchers
Vouchers
They will be sent to Farepak agents - who handled payments on behalf of savers - by December 18 although this date may be brought forward.
Details of how many vouchers each Farepak saver will get will be given either on Wednesday evening or Thursday.
Details of how many vouchers each Farepak saver will get will be given either on Wednesday evening or Thursday.
The number of vouchers issued will relate to the amount of cash individual members paid into the scheme.
The number of vouchers issued will relate to the amount of cash individual members paid into the scheme.
I am disappointed that we can't be giving more Farepak response fund chairwoman Shirley Young
I am disappointed that we can't be giving more Farepak response fund chairwoman Shirley Young
BBC business correspondent Nils Blythe said that unless there was a last-minute flurry of contributions before the fund closed, savers could expect about 15p back for every £1 they had saved.
BBC business correspondent Nils Blythe said that unless there was a last-minute flurry of contributions before the fund closed, savers could expect about 15p back for every £1 they had saved.
Administrators who took over the running of the firm after its collapse expect to pay a further 4p or 5p for every £1, some time next year.
Administrators who took over the running of the firm after its collapse expect to pay a further 4p or 5p for every £1, some time next year.
The biggest contributor to the fund with a £2m donation has been HBOS - the bank that lent money to Farepak's parent company and which has been criticised by many MPs for its role in the collapse.
The biggest contributor to the fund with a £2m donation has been HBOS - the bank that lent money to Farepak's parent company and which has been criticised by many MPs for its role in the collapse.
Donations from the public have now topped £280,000.
Donations from the public have now topped £280,000.
'Disappointing'
'Disappointing'
Dumfries Labour MSP Elaine Murray, who urged political colleagues to contribute to the response fund, said she was very disappointed by the overall response.
Dumfries Labour MSP Elaine Murray, who urged political colleagues to contribute to the response fund, said she was very disappointed by the overall response.
FAREPAK HELP 0870 066 9826www.farepakresponsefund.org.uk
FAREPAK HELP 0870 066 9826www.farepakresponsefund.org.uk
The fund said only 70 politicians had made donations, despite pleas in the House of Commons, Scottish Parliament and Welsh Assembly.
The fund said only 70 politicians had made donations, despite pleas in the House of Commons, Scottish Parliament and Welsh Assembly.
The fund's chairwoman, Shirley Young, admitted she was also disappointed.
The fund's chairwoman, Shirley Young, admitted she was also disappointed.
She told the BBC: "We have to remember that for some families what would appear to other people to seem a very small amount, it could make a bit of difference to how their Christmas will go.
She told the BBC: "We have to remember that for some families what would appear to other people to seem a very small amount, it could make a bit of difference to how their Christmas will go.
The collapse of the company has hit some of our families who have saved hard for Christmas rather than borrowed on credit cards and from loan sharks First Minister Rhodri Morgan
The collapse of the company has hit some of our families who have saved hard for Christmas rather than borrowed on credit cards and from loan sharks First Minister Rhodri Morgan
"So, we don't want to take away from that. But, obviously, yes, I am disappointed that we can't be giving more.
"So, we don't want to take away from that. But, obviously, yes, I am disappointed that we can't be giving more.
"The more we can give, the better."
"The more we can give, the better."
In Wales, families who lost money will be able to apply for emergency loans, First Minister Rhodri Morgan has said.
In Wales, families who lost money will be able to apply for emergency loans, First Minister Rhodri Morgan has said.
The Assembly Government said it would underwrite the cost of loans from credit unions for those affected by Farepak's collapse.
The Assembly Government said it would underwrite the cost of loans from credit unions for those affected by Farepak's collapse.
A government spokeswoman said that people usually have to save with credit unions for six weeks before they can apply for loans.
A government spokeswoman said that people usually have to save with credit unions for six weeks before they can apply for loans.
Mr Morgan has pledged to fast-track the process by giving money to the Wales Co-operative Centre, although the amount has not been disclosed.
Mr Morgan has pledged to fast-track the process by giving money to the Wales Co-operative Centre, although the amount has not been disclosed.
Loan sharks
Loan sharks
A Treasury Select Committee report on Tuesday urged government action to ensure such situations do not happen in future.
A Treasury Select Committee report on Tuesday urged government action to ensure such situations do not happen in future.
The collapse of the scheme highlighted a "serious lack" of consumer protection, MPs said.
The collapse of the scheme highlighted a "serious lack" of consumer protection, MPs said.
They called for more powers for watchdogs such as the Financial Services Authority and Office of Fair Trading to safeguard people's money.
They called for more powers for watchdogs such as the Financial Services Authority and Office of Fair Trading to safeguard people's money.
Committee chairman John McFall said money paid into schemes like Farepak should be as safe as that deposited into a bank.
Committee chairman John McFall said money paid into schemes like Farepak should be as safe as that deposited into a bank.
Have you been affected by issues covered in this story? Should the Farepak fund be opened longer? Have you contributed to the fund? Send us your comments and experiences.
Have you been affected by issues covered in this story? Should the Farepak fund be opened longer? Have you contributed to the fund? Send us your comments and experiences.
You comments
You comments
My mum has lost just over £500 which was supposed to be given to us to be able to pay for Christmas for my four young children who are all under 5. We are now having to rely on other members of family to help us out, but when you have been handing over £50 a month now knowing you are not going to get it back is seriously upsetting.Paula Timms, Fleckney, Leicestershire
My mum has lost just over £500 which was supposed to be given to us to be able to pay for Christmas for my four young children who are all under 5. We are now having to rely on other members of family to help us out, but when you have been handing over £50 a month now knowing you are not going to get it back is seriously upsetting.Paula Timms, Fleckney, Leicestershire
My sister was an agent for Farepak. She paid in £6100.00, £700.00 was paid in to the bank 2 days before Farepak went bust. I personally lost £1176.00 and have had to take out a loan with the Provident which will cost me £27.00 a week for the next 2 years. Sean Colcombe, Ebbw Vale, South Wales
My sister was an agent for Farepak. She paid in £6100.00, £700.00 was paid in to the bank 2 days before Farepak went bust. I personally lost £1176.00 and have had to take out a loan with the Provident which will cost me £27.00 a week for the next 2 years. Sean Colcombe, Ebbw Vale, South Wales
I should have receivd GBP 250 in vouchers from Farepak for Xmas presents for my children. Not only that but the tax credits dept have 'screwed up' my claim and I haven't received any money for 8 weeks. I'm at my wits end now and trying to negotiate to take out loans to cover my losses. I was hoping the fund would stay open longer but also that more MPs would have donated as this situation just should not have happened. I had no reason to think my money would not be safe.Amy Longhurst, South Ockendon, Essex
I should have receivd GBP 250 in vouchers from Farepak for Xmas presents for my children. Not only that but the tax credits dept have 'screwed up' my claim and I haven't received any money for 8 weeks. I'm at my wits end now and trying to negotiate to take out loans to cover my losses. I was hoping the fund would stay open longer but also that more MPs would have donated as this situation just should not have happened. I had no reason to think my money would not be safe.Amy Longhurst, South Ockendon, Essex
Even as a Farepak customer, I didn't even know there was a response fund being set up, it wasn't very well advertised, it should be properly promoted and give another couple of weeks at least.D. Dyer, Port Talbot
Even as a Farepak customer, I didn't even know there was a response fund being set up, it wasn't very well advertised, it should be properly promoted and give another couple of weeks at least.D. Dyer, Port Talbot
I am disgusted with the way they have handled the situation, in that they have known for ages that they were going bust but just kept collecting people's money. As far as I am concerned this should be classed as theft as there is no other word for it, as this company has stolen our money, you might as well been robbed in the street as that is how much it hurts. I will never trust another hamper company as long as I live in case the same thing happens to them.
I am disgusted with the way they have handled the situation, in that they have known for ages that they were going bust but just kept collecting people's money. As far as I am concerned this should be classed as theft as there is no other word for it, as this company has stolen our money, you might as well been robbed in the street as that is how much it hurts. I will never trust another hamper company as long as I live in case the same thing happens to them.
What do you tell a 5 year old girl, when all your Christmas money is gone and Santa will not be coming this year all because of Farepak.Claire Healy, Luton, UK
What do you tell a 5 year old girl, when all your Christmas money is gone and Santa will not be coming this year all because of Farepak.Claire Healy, Luton, UK
