The fund set up to compensate people who lost savings in the collapse of the Farepak Christmas saving scheme is due to close at the end of the day.
The fund set up to compensate people who lost savings in the collapse of the Farepak Christmas saving scheme is due to close at the end of the day.
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 hope to deliver the payout just before Christmas.
Organisers hope to deliver the payout just before Christmas.
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.
The administrators who took over the running of the company when it collapsed expect to pay a further 4p or 5p for every £1, some time next year.
The administrators who took over the running of the company when it collapsed expect to pay a further 4p or 5p for every £1, some time next year.
The biggest contributor to the fund with a £2 million donation has been HBOS - the bank which 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 £2 million donation has been HBOS - the bank which lent money to Farepak's parent company and which has been criticised by many MPs for its role in the collapse.
'Disappointing'
'Disappointing'
Dumfries Labour MSP Elaine Murray, who urged political colleagues to contribute to the response fund, said she was very disappointed by the response.
Dumfries Labour MSP Elaine Murray, who urged political colleagues to contribute to the response fund, said she was very disappointed by the response.
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.
But 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.
But 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? Send us your comments and experiences.
