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Is your holiday safe?

After the last few days, in the aftermath of the collapse of XL Leisure, many holidaymakers are starting to wonder if their pre-paid holidays for next year are safe and what they can do to ensure their money is protected. It is a very difficult time for the holiday sector and it looks as though it may get worse before it gets better.

On a more positive note it looks as though those left stranded by the collapse of XL Leisure will finally be flown home over the next few days, but rumours are rife that other companies are in trouble. While the majority of holiday companies in the UK are covered by the ATOL compensation scheme those who booked flights themselves may not be covered. The age of internet arranged travel may ultimately cost come holidaymakers if their airline was to go bust.

The only really safety net holiday makers have is to make sure they pay for their holiday with a credit card which offers protection for such circumstance and ensure that they book through a reputable firm. You may pay a little more but you will be able to sleep at night knowing that your money could not be in safer hands - although that is not to say the majors are immune from this current fiscal turbulence.

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