Many Brits could be facing new debt problems after missing out on travel plans because of the volcanic ash cloud. With flights grounded since last week, thousands of passengers have missed out on holidays and weekends away and experts say there is no guarantee they will get any money back which could deepen debts. Experts warn such unforeseen expenses can make debt problems much worse and in serious cases see people turn to debt solutions like IVAs and even bankruptcy. Bob Atkinson from moneysupermarket.com has hit out at insurance firms that have not clarified their stance on paying out on claims. He says “I would have hoped insurers would have contingencies in place for such events, no matter how unexpected.” Confused.com’s head of travel cover Steve Williams said the situation “is incredibly rare” and providers will likely respond differently to the delays and cancellations it has caused.
Grounded flights may deepen debt problems
April 19, 2010 By
