Cash Genie Legal Action

[Blade1987]

Hi

 

Cash Genie are intending to commence legal proceedings against me.

 

A little bit of history...

 

I was a law student and then decided (foolishly) to borrow a load of money to do my LPC. Graduated and then worked at a large national firm working as a paralegal. In October 2010 I was made redundant (did not have one years service, easy to get rid of me), This meant that I did not have a job and struggled to keep up with the payments of my LPC loan. I therefore basically robbed Peter to pay Paul and ended up getting credit cards and payday loans so I could keep up with repayments.

 

I luckily found another job (training contracts are non-existant) and I have been working in housing law (I love it) since January 2011. In February 2011 I decided to instruct PayPlan to deal with my debts and I have been paying £300 per month to PayPlan. Cash Genie have been allocated £3.40 per month. I admit this is quite small but it is worked out fairly.

 

Roll to September 2011 and despite my constant emails stating that Payplan has offered this amount because of said reason they have sent me a LBA

 

It reads:

 

Intended Action: Cash Genie UK Ltd v Blade1987

 

Sum Due £472.60

 

We write with reference to the above intended action.

 

On February 2011 you entered into an arrangement to borrow the principal sum of £150.00

 

Despite extensive chasing for repayment by us and promises to pay by yourself the amount remains outstanding and further interest and charges have incurred (a default notice in relation to the charges is attached).

 

The sum of £472.60 is therefore due immediately. To ensure that further action is not taken against you, please notify us in writing your reasons for non payment within 14 days.

 

If we have not heard from you by close of business 30/09/11, we hereby notify you that it is our intention to issue proceedings against you forthwith without further notice to yourself. Please note that any court proceedings will include a further claim for interest and costs.

 

We do hope this action will not be necessary and look forward to receiving your remittance by return.

 

Yours faithfully

 

LEGAL DEPARTMENT

CASH GENIE UK LTD

 

Its probably shameful that I do not know debt law nor the process but I deal with housing so possession proceedings; disrepair; homelessness; neighbour nusiance etc. Id be happy to help with anyone who has queries

 

I would appreciate all the help that you guys could be. How shall I respond to this letter? If they do issue me with a CF would you guys help me draft a defence?

 

I would ask the debt team at my firm but im too embarrassed. Hope you all understand.

 

Thanks

 

Blade1987

[26072004]

probably just trying to scare you into paying.

 

a defence should be easy, you can prove you are re-paying all your debt via a DMP be really surprised if a judgement was recorded against you under these circumstances.

[Blade1987]

Cheers for the reply.

 

Im currently drafting a letter to them in rely to their LBA. What do you think I should include?

[Spiral123]

I've also recently been getting e-mails threatening court, I have paid the capital back long ago, & yet Cash genie & their so called DCA, Carter Forbes (Tooth Fairy all over again, ie Carter Forbes/Cash Genie, one of the same) will not give me a breakdown of what I still owe them, probably an outlandish made up figure of interest & fees. Dick Turpin had the decency to wear a mask, bloody sharks the whole lot of them.

[postggj]

please people

 

you only need to pay back the amount borrowed plus one months interest

 

these are 30 day loans

 

the contract is just for thirty days

 

end of

[Spiral123]

Cheers Post, & I have no intention of paying them anymore, of course if they do carry out their threats I will be looking for help to prepare a defence, which I have no doubt I will get on here.

[drob]

Unfortunately Cash Genie are one of the few Payday Loan Companies who will persue a County Court Claim. Have you received any correspondence from Carter Forbes Solicitors yet?

 

If you are on a DMP and Cash Genie are part of this process then I doubt that they would be daft enough to persue a Couny Court Claim unless you have defaulted on your DMP payments.

 

Please be careful as Carter Forbes and Cash Genie do look at these forums because when I was issued with proceedings, as part of their particulars of the claim they alledged that because I was using CAG for advice and help I was trying to avoid payment.

 

As postggj has previously stated all you owe is the original loan amount + 1 months interest.

[Spiral123]

Drob, nothing in writing, just loads of threatening emails & texts. I have paid all of the capital back & have offered interest on numerous occasions to no avail. How did you get on with them in court? Not really bothered if they go the legal route but obviously would prefer to pay off interest and be done with them.

[Spiral123]

One months interest offered obviously.

[drob]

Drob, nothing in writing, just loads of threatening emails & texts. I have paid all of the capital back & have offered interest on numerous occasions to no avail. How did you get on with them in court? Not really bothered if they go the legal route but obviously would prefer to pay off interest and be done with them.

 

One thing i forgot to mention is that even though you are in a DMP, a DMP isn't legally binding, so creditors could in theory proceed with court action.

 

Re: Court Claim I had a lot of help from Sillygirl and again I must thank her. I submitted a defence and admitted part of the claim which was the original loan amount plus 1 months interest. I also agreed to use the County Court Medeation Service if the Judge though that would be suitable. To cut a long story short all I paid was the original amount plus 1 months interest and all the other charges and costs were dropped after medeation.

[Spiral123]

Drob, I am not on a DMp, I paid the original loan on my own bat. Not sayin too much, as these PDL toerags read through yhis foru. If it comes to court, I will PM yourself/Sillygirl re defence, & obviously will post updates here. Cheers mate.

[Nao]

I can unfortunately predict their reply:

 

Tough luck, now pay the rest of the fantasy charges.

 

I wish you the best of luck in bringing them down, Cash Genie are not just bottom of the barrel, they are the slime on the underside of the barrel, just a word of advice, be very careful with Cash Genie as they have zero hesitation calling the Company where you work and they will attempt to obtain Bank details that way, so it may be a good idea to warn the HR department.

[Blade1987]

Thanks for all of your replies. I really appreciate it.

 

I have just drafted my response and sent it to them. I just basically said im in a DMP so leave me alone.

 

I will set what I get back, probably a claim form but hopefully not.

 

Cheers again