Lowcostholidays collapses – your rights as 140,000 hit by travel chaos

DealFinder2016

From Spanish authorities website.


LATEST NEWS ON INSOLVENCY LOWCOSTHOLIDAYS SPAIN SL
Balearic Islands Governement declares that until friday, 5 agost 2016, Lowcostholiday Spain S.L. has not oficially registered insolvency. Without the official notification, we are not able to start the legal procedures related to customer claims.
The absence of such registered insolvency does not even allow us to issue certificates recognizing that the bond will not be able to cover all the losses suffered by final customers, which some banks demand their clients in order to chargeback credit card payments.
We would also like to announce that dealing with all the applications we recieved will take at least months, due to burocratic reasons.

IA-UK-2016

There has been an update on the LCH website too 05/08.

This is of note:

It is highly likely that you will be able to make a claim for non-delivered services direct to your credit card provider / bank. You do not therefore need to lodge a separate claim with the administrator.

Tracey_Syrett

Hi john even if we phone paypal24/7 they are still not going to crack under pressure. They will refund when they have the go ahead. I've been
Told they are starting to process the refunds and will try to do this ASAP but they have to follows guidelines.,I still think it will be s few weeks before refunds will start coming through. And whatever you do don't try to open a chargeback with ur bank cuz this will automatically close ur PayPal case down . I think this is what PayPal are hoping we do so they have got less to pay out. They are so slow and it's staring to get me down but we can't give up the fight . We've gota keep pushing on

johnsmith1956

why do you think they wont crack? if no one calls them then they will become complacent and will be in no rush to help us. they need to know from as many people as possible that we are hurting.

i do believe they will eventually have to give into pressure. call, call, call! its a freephone number

Tracey_Syrett

I have been calling 2-3 times per week but it's hot me no where.,I'm sick of listening to the same crap over and over that's driving me more saft that not getting the refund. We will get it I just don't think it will be for another few weeks. Even months it could be

johnsmith1956

i literally dont understand your confidence. it is wishful thinking to believe it will happen

paypal have no legal requirement to refund a single penny. and if their refund bill runs into the hundreds of thousands i reckon they will deny all refunds. they are waiting to see how much this will cost them before committing to any refunds.

bear in mind just 400 claims of an average of £2500 is £1million. If it were my business I wouldn't be so happy to refund £1m just because some cowboys sold holidays on the cheap.

Tracey_Syrett

In a way John I do agree with you. Maybe I am wishful thinking but in another way it isn't actually PayPal who will have to fit the bill for this. The way I've had it explained to me our money will be in lowcosts PayPal account and it will be upto lowcosts bank to pay PayPal then PayPal will refund us. Have you ever asked for an explaination of how it all works. It's the same as how a credit card refunds you. I am just hoping and praying I get my refund. So far I'm £1850 out of pocket and cannot afford to just loose that kind of money. I have had to pay an additional £1850 on a credit card for my hotel. You phone back again today and get somebody who will explain it all to you. I am just hoping they do as they've said. But I am 50/50 as to weather we will get a refund but I want to stay positive until I hear otherwise

farhadhussain

It's really sad that another week has started and no news from paypal yet. Starting to hope against hope.

Just out of curiosity if PayPal do decide not to refund where do we stand legally after all they were the ones who boldly stated at LCH collapse that we will be refunding our customers.

IA-UK-2016

It's also worth noting that it might be better when raising the claim to ask the bank/provider to raise it specificallys 'goods or services not received'. I've a huntch that the people getting quick payouts are from banks that are specifically raising claims under this premise as this may well be independent of any liquidation investigation.

Tracey_Syrett

Hi john I've just phoned PayPal yet again..and it's just the same !!!! on a different day. All I can say is don't hold ur breath I am
Loosing confidence with PayPal. Basically they are saying they are in talks with lch and if they cannot retrieve the funds from them then PayPal will not refund us. This is ridiculous we paid through PayPal because of the buyer protection but infact we are no more protected than paying in any other way. I've told them we will not shut up and forget about this . I've told them they are stalling so we go away or they're Hopi g we get that feed up that we open a claim through our bank