"We've been working our b******* off since Christmas to survive and to pull the plug in terms of what Leeds have done, I feel cheated.
"We've worked so hard and it's a surreal position.''
Plymouth boss Holloway added: "I don't like that at all.
"In fact, it's terribly, disgustingly wrong. You don't go writing out debts - it's tantamount to cheating.
"You shouldn't overspend and you should be docked 10 points next season like poor old Rotherham were.''