Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 27th Jul 15, 1:40 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Payday lender Cash Genie to pay £10m redress for 'serious failings'
    • #1
    • 27th Jul 15, 1:40 PM
    MSE News: Payday lender Cash Genie to pay £10m redress for 'serious failings' 27th Jul 15 at 1:40 PM
    More than 92,000 customers of payday loan firm, Cash Genie, are due a share of £10m in redress...

    Read the full story:

    Payday lender Cash Genie to pay £10m redress for 'serious failings'




    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • skyshadow
    • By skyshadow 27th Jul 15, 7:09 PM
    • 90 Posts
    • 67 Thanks
    skyshadow
    • #2
    • 27th Jul 15, 7:09 PM
    • #2
    • 27th Jul 15, 7:09 PM
    I had court action against these oafs a few years back and they walked away with nothing as we proved how much they lied. Mainly through Cash Genie blaming Carter Forbes and vice versa despite having the same employees.

    The biggest joke with these was the threats of legal action for 9 months demanding payments without ever actually giving an account balance. I am not shocked they've come to the attention of the regulators.
    • grumbler
    • By grumbler 27th Jul 15, 8:52 PM
    • 51,919 Posts
    • 22,025 Thanks
    grumbler
    • #3
    • 27th Jul 15, 8:52 PM
    • #3
    • 27th Jul 15, 8:52 PM
    It misused customers' bank details. ...This banking information was then used to take payment for existing Cash Genie loans without customers' informed consent.
    by MSE
    Does this not have to be called "theft" and result in criminal prosecution?
    Thankfully, we have started to see much greater scrutiny of the ways these dangerous businesses in this dangerous industry operate. And now their horrible practices are starting to catch up with them.
    by M.L.
    Not really. Their profits just get smaller.
    Last edited by grumbler; 27-07-2015 at 8:56 PM.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • Anthorn
    • By Anthorn 28th Jul 15, 10:04 PM
    • 4,300 Posts
    • 1,202 Thanks
    Anthorn
    • #4
    • 28th Jul 15, 10:04 PM
    • #4
    • 28th Jul 15, 10:04 PM
    Here I go rabitting on about Credit unions again but without apology.


    'Most people should never use payday loans'
    Hey you don't say. There are Credit Unions out there which are capital rich but cann't get borrowers. The maximum interest charged by Credit Unions is 3% per month or 43.2% APR.

    So why is it that people needing a loan use the services of pay-day lenders, loan sharks and doorstep lenders and pay massive interest rates?

    The answer is approachability: Credit Unions suffer from peoples' adverse previous experience of the financial sector. Pay-day loans websites and the happy smiling faces of doorstep lenders and loan sharks are much more approachable. Credit Unions still suffer from the requirement of a "common bond" which makes them highly exclusive and restrictive and not at all open which in itself defeats the government's aims to expand them.

    Getting back to the subject, we can make pay-day lenders pay millions in compensation but they are never going to be stamped out. The government is doing a lot to expand Credit Unions as an alternative but not enough.

    At the end of the day though we must recognise that pay-day lenders exist and flourish because there is demand for their services and in turn that demand exists because they fill a need.
    Last edited by Anthorn; 28-07-2015 at 10:20 PM. Reason: punch line inserted
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 2nd Aug 15, 2:29 PM
    • 3,932 Posts
    • 2,077 Thanks
    keepcalmandstayoutofdebt
    • #5
    • 2nd Aug 15, 2:29 PM
    • #5
    • 2nd Aug 15, 2:29 PM
    I had a cash genie loan but never ended up at their DCA, it's beginning to strike me a lot of these 'redress you are owed compo' cases are predominately only when people got transferred to these lender's DCA whether pretend or not, I really don't understand rewarding those who took the longest time to repay or with no intention, never will.
    Rich if I ever meet the right employer
    • Ashleyr
    • By Ashleyr 13th Aug 15, 11:17 AM
    • 3 Posts
    • 0 Thanks
    Ashleyr
    • #6
    • 13th Aug 15, 11:17 AM
    Got a Cheque!
    • #6
    • 13th Aug 15, 11:17 AM
    So, last night I received a cheque for £65 form Cash Genie. As far as I'm aware i have never had an account with them. They have never contacted me by email or tried to call me or anything. Could it be that someone took out a loan in my name?!

    Either way, i should cash the Cheque right??!
    • boo_star
    • By boo_star 13th Aug 15, 11:37 AM
    • 3,003 Posts
    • 2,340 Thanks
    boo_star
    • #7
    • 13th Aug 15, 11:37 AM
    • #7
    • 13th Aug 15, 11:37 AM
    Either way, i should cash the Cheque right??!
    Originally posted by Ashleyr
    No. Contact them and ask them why they sent it you, to simply cash it is dishonest (and possibly theft.)
    • carlos1973
    • By carlos1973 16th Aug 15, 11:19 PM
    • 235 Posts
    • 74 Thanks
    carlos1973
    • #8
    • 16th Aug 15, 11:19 PM
    • #8
    • 16th Aug 15, 11:19 PM
    I've contacted them and updated my details, hopefully I'll get a small redress for the misery that they caused by rolling over loans and not credit checking.

    On another note have any other PDL's been forced to do similar things? I know Wonga did last year and they once again conned me out of money but wiped my wifes loan! I got no redress as I had entered into a DMP and eventually paid them off, my wife enetered an IVA and was paying off. Because I had cleared mine, I got nothing.
  • chris5mum
    • #9
    • 19th Aug 15, 1:31 PM
    • #9
    • 19th Aug 15, 1:31 PM
    Ive been paying them a small agreed amount for 2 years now,the largest part of the sum owed is for the interest , I recently had an email telling me that the carter forbes accounts I was paying money into would be closed and to make payments into a new account ?? I haven't done so yet ,after reading this not convinced the new account details they gave me would go towards paying off any debt !!
    Have just emailed them saying that I think I may be effected and even if I wasn't to provide me with a full breakdown of payments both by them and my selves - I have never had any statements in regards to breakdowns of what is owed.
    • carlos1973
    • By carlos1973 14th Sep 15, 9:38 PM
    • 235 Posts
    • 74 Thanks
    carlos1973
    I contacted these shylocks a month ago and have heard nothing, has anyone actually had contact from Cashgenie?
    • dreamerinfate
    • By dreamerinfate 27th Jan 16, 11:38 AM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    Hi
    I never received a redress as my loan was taken out in approx 2010, however i decided to write to them and was given £123 back in charges, i also then contacted them again as i found further charges were added and was given a further £45 back, that was great and i put it to bed

    Two days ago i recieved an email from them and also a letter the same day stating that i was owed money and my account had a credit balance and that i had overpaid, i was a little confused as i had got a refund from them for the interest but now it seems i have overpaid, they have gone into liquidation which the email and letter explains

    I have tried to contact them by phone but the phone lines are constantly engaged or hold music is playing, i have sent an email 2 days ago and no reply, was just wondering if anyone else has received any communication from them after already receiving a redress?

    Thanks
    • tasha7490
    • By tasha7490 20th Feb 16, 12:55 AM
    • 1 Posts
    • 1 Thanks
    tasha7490
    Cash genie redress
    Hi,

    I had numerous loans with cash genie in 2009-2011 so I contacted them by phone and email to see if I was entitled to redress (it took me about 3 days of trying to get through on their stupid phone number). When I got through to them I was told an account manager was going to call me back and he did. He was very aggressive and rude telling me I was not owed anything and 70 pounds in letter charges (I was not even aware I had been charged this) was completely justified and despite me trying to argue my case the phone call swiftly came to an end. However today I have received an email from someone at s law (involved in liquidating cash genie) asking for my address so they can post a cheque to me. No idea how much for though.
    • SnowTiger
    • By SnowTiger 20th Feb 16, 1:41 AM
    • 4,015 Posts
    • 2,986 Thanks
    SnowTiger
    I had numerous loans with cash genie in 2009-2011 so I contacted them by phone and email to see if I was entitled to redress (it took me about 3 days of trying to get through on their stupid phone number). When I got through to them I was told an account manager was going to call me back and he did. He was very aggressive and rude telling me I was not owed anything and 70 pounds in letter charges (I was not even aware I had been charged this) was completely justified and despite me trying to argue my case the phone call swiftly came to an end. However today I have received an email from someone at s law (involved in liquidating cash genie) asking for my address so they can post a cheque to me. No idea how much for though.
    Originally posted by tasha7490
    There's some information here.
    • dreamerinfate
    • By dreamerinfate 11th Apr 16, 9:43 AM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    Hello
    As anyone heard from Cash Genie?

    I received an email back in January, took ages to confirm details with them finally managed to get through on the phone i then sent several emails as i have had no further contact from them, they told me it would take 12 weeks it has now passed the 12 weeks and i have sent more emails and i get no reply and cant get through to them on the phone

    I was just wondering if anyone has had a redress recently, i have no idea how much it is for or what it is for and no one is contacting me
    • fusionx212
    • By fusionx212 11th Apr 16, 10:41 AM
    • 312 Posts
    • 208 Thanks
    fusionx212
    Hello
    As anyone heard from Cash Genie?

    I received an email back in January, took ages to confirm details with them finally managed to get through on the phone i then sent several emails as i have had no further contact from them, they told me it would take 12 weeks it has now passed the 12 weeks and i have sent more emails and i get no reply and cant get through to them on the phone

    I was just wondering if anyone has had a redress recently, i have no idea how much it is for or what it is for and no one is contacting me
    Originally posted by dreamerinfate
    they don't have 12 weeks they have lied. they have 8 weeks to respond any later than that you can contact the Financial ombudsman.
    • dreamerinfate
    • By dreamerinfate 11th Apr 16, 11:19 AM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    Thank you for your reply :-)
    They have now gone into liquidation so does it still work the same way? I never complained, well i did but my complaint was settled and money refunded and months later out of the blue i got an email stating i had overpaid how i dont know, anyway they said i would get a refund plus interest and compensation, no one is telling me how much, i have received nothing sent several emails and no replies, the number i tried to contact on for redress is always engaged

    I dont know what to do now, its annoying because i wasnt expecting anything just wondering how much and why but getting no where
    • fusionx212
    • By fusionx212 11th Apr 16, 2:41 PM
    • 312 Posts
    • 208 Thanks
    fusionx212
    Thank you for your reply :-)
    They have now gone into liquidation so does it still work the same way? I never complained, well i did but my complaint was settled and money refunded and months later out of the blue i got an email stating i had overpaid how i dont know, anyway they said i would get a refund plus interest and compensation, no one is telling me how much, i have received nothing sent several emails and no replies, the number i tried to contact on for redress is always engaged

    I dont know what to do now, its annoying because i wasnt expecting anything just wondering how much and why but getting no where
    Originally posted by dreamerinfate
    it works the same regardless. try contact the liquidators.

    A phone line has been set up to assist with claims – customers who think they may be owed money can call 0333 366 0023 or email customerredress@cashgenie.co.uk.

    The shareholders of Ariste Holding Limited appointed Steven Law and Nigel Millar of RSM Restructuring Advisory LLP as Joint Liquidators of the Company on 5 January 2016. The Joint Liquidators will deal with the remaining redress payments and ultimately the closure of the Company.
    • dreamerinfate
    • By dreamerinfate 11th Apr 16, 4:50 PM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    Thanks very much for the info, i have tried the email address and the number but no luck, anyway hopefully it will arrive soon, i cant even get through to anyone which is more annoying. :-)
    • dreamerinfate
    • By dreamerinfate 12th Apr 16, 2:23 PM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    I have finally managed to get someone to call me back from Cash Genie and they have told me there has been a delay in sending out the cheques and should receive it no later than 18th April, we shall see...

    I asked how much it is for and what it is for and all they could say was its an overpayment on my account and they have no idea how much it is for, i am still confused as to why as i had already complained and got £123 back and then complained again about the same matter and got a further £43 back, i am confused as i am pretty sure the loan was only £200 originally and i paid it back years ago and wasnt aware that i had overpaid
    • dreamerinfate
    • By dreamerinfate 18th Apr 16, 1:30 PM
    • 131 Posts
    • 229 Thanks
    dreamerinfate
    Hello
    Just a quick update i finally received a cheque over the weekend from cash genie for £91.99, apparently i had overpaid by £90 on my account and got interest of £1.99, at the time of taking the loan i had mental health problems and alot of trouble with finances, i did pay it back but was never made aware i had overpaid, i had also gotten a refund of £163 back last year so in total i have received approx £255 and i think the loan was only about £150 in total although i know i did pay interest and charges etc, anyway better in my pocket and a lesson which was learnt the hard way, makes me wonder though how many people overpaid and was never told they overpaid, this was back in 2010, there quick to pester you and threaten you if you owe something but has this has proved not quick to give you, your money back, anyway thank you for everyone who took the time to give me advice much appreciated
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

149Posts Today

1,817Users online

Martin's Twitter