Martin Lewis has set out guidance regarding holidaymakers' rights if they were to be issued a voucher by a firm which then goes bust.
The global coronavirus pandemic has had a major effect on everyday life - including holiday bookings.
Many airlines and holiday companies have made the decision to cancel holidays.
Airlines including Easyjet have now grounded all flights, while TUI has cancelled all holidays until at least May 14, 2020 and British Airways has suspended all flights to and from London Gatwick.
Many people have been forced to rebook their getaways, with Ryanair causing serious frustration after issuing passengers with vouchers instead of a cash refund.
Martin Lewis has repeatedly stated if your holiday has been cancelled, you are legally entitled to a refund.
But many firms are pushing customers towards vouchers and then making customers hold in long telephone queues in order to request cash refunds.
Taking a voucher instead of a cash refund could help the struggling travel industry out - especially if you just can't face waiting for hours and hours to get your money back.
But getting a voucher has raised questions on what would happen if the firm were to go bust.
It would be safer to demand a refund rather than opting for a voucher in case the airline collapses before you can use it, but it is also worth considering whether you're in a position to show forbearance.
In regards to your rights with a voucher, it depends on the type of voucher you may receive.
If you're issued a refund credit note, which are given out for some ATOL protected package holidays and flight-only booking refunds, these will likely offer ATOL insolvency protection, so you'd likely get a full refund.
But the MoneySavingExpert site warns that as it's a new protection, it's not been 100% tested.
With other vouchers, they aren't protected if the firm goes bust as legally you'd just be a creditor.
Martin Lewis said: "Though I suspect, and the Financial Ombudsman agrees, it'd be worth trying cover via your card provider under chargeback or Section 75 rules. But this is untested."
