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holiday let down

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123spanner | 17:05 Sat 18th Oct 2008 | Law
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what would happen if i booked a holiday and paid for it (uk break) and the company went bankrupt just before i went. i did not take out insurance would i have a right to claim and would i be likely to ever get my money back
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Reports in the last few weeks (when several holiday firms went ot the wall) stated that no, you would not get your money back - could be slightly different if you pay by credit card.
amendment to the above: unless you are ATOL covered, ie you booked through a licenced travel agent.
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