Still being chased for a Cash Genie loan? Read this first

A letter chasing an old Cash Genie loan in 2026 is unusual — the lender itself has been defunct for over a decade. Cash Genie was a UK payday lender wound down following Financial Conduct Authority action in 2014–15 over unaffordable lending. Substantial customer redress was agreed at the time, and many balances were written off entirely.

If you are still being chased for a Cash Genie balance today, the letter is almost certainly from a debt purchaser that acquired the residual loan book. This guide covers what Cash Genie was, what happened in the FCA remediation, your rights now, and how an IVA can close any remaining balance for good.

Who Cash Genie were

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Cash Genie was a UK short-term, high-cost loan provider — part of the wave of payday and instalment lenders that operated under FCA scrutiny from 2014 onwards. Following an FCA review, Cash Genie was found to have issued loans without adequate affordability checks and to have engaged in poor collection practices. The firm:

• Agreed customer redress with the FCA
• Wrote off significant amounts of outstanding balance
• Refunded interest and fees to many borrowers
• Wound down operations and ceased trading

The remediation was one of several FCA-led clean-ups of the payday-lending sector during that period.

Why someone is still chasing

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If a 2026 letter still bears the Cash Genie name (or refers to a Cash Genie balance now held by another business), one of three things has happened:

• The loan book was sold to a debt purchaser before or after the wind-down. The most likely buyers of legacy payday portfolios are Lowell, Cabot and PRA Group.
• A residual servicer is still working through tail-end accounts on behalf of administrators.
• The letter is misaddressed or fraudulent — phishing using defunct-lender names is common.

The first letter you receive should clearly state who currently owns or services the debt. If it doesn’t, write to ask.

What can and cannot legally happen now

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Whoever currently holds the debt, they are bound by the FCA’s CONC rules and the Consumer Credit Act 1974. They can:

• Write to you and call you on contact details inherited with the account
• Apply for a CCJ if they believe the debt is enforceable and within limitation
• After a CCJ, apply for attachment of earnings, charging order or High Court enforcement

They cannot force entry, take goods without a court order, threaten arrest, continue contact after a written request to stop, or add fees not in the original loan agreement.

Two checks worth running first

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1. Section 77/78 CCA request — write to the current owner asking for the original signed credit agreement, statement of account and notice of assignment. Enclose the £1 statutory fee. Cash Genie’s wind-down has left paperwork gaps, and a CCA request often makes the debt unenforceable.
2. Statute-barred check — most Cash Genie loans were issued before 2015. Six years in England and Wales (five in Scotland) since the last payment or written acknowledgement, with no CCJ in that window, means the debt cannot be enforced.

Don’t make a token “goodwill” payment to test — even £1 can reset the limitation clock.

What happens if you ignore the chasing letters

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Even on a defunct lender’s loan, ignoring is not a strategy. The current owner can still:

1. Issue more letters and calls
2. Send a letter before claim
3. File a county-court claim through the Northampton bulk centre
4. Win a default CCJ if you don’t respond within 14 days
5. Apply for enforcement on the CCJ

If a claim form arrives, respond before the deadline. Acknowledgement of service alone buys you 28 days.

Routes out

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• Dispute the debt with a CCA request and a statute-barred letter where the dates fit.
• Write off via the original FCA redress — only relevant if you never engaged with the original Cash Genie remediation and the loan was issued before the firm folded.
• Settle with the current owner at a discount where the debt is enforceable.
• IVA if you have £5,000 or more of total unsecured debt — closes the Cash Genie balance and every other unsecured debt over a 5–6 year term.
• Debt Relief Order for total debt under £50,000 with very low spare income.
• Bankruptcy for severe situations with no realistic monthly payment.

Common pitfalls

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• Don’t confirm the debt is yours by phone — stay in writing.
• Don’t assume a defunct lender’s debt is automatically dead — the loan book may have been sold.
• Don’t make any payment before the CCA and statute-barred checks.
• Don’t ignore CCJ paperwork even on an old payday loan — defaults are common.

Frequently asked questions

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Is Cash Genie still operating? No. The firm wound down in 2015 after FCA action over unaffordable lending.

Will an IVA include my Cash Genie debt? Yes — whoever now owns the balance, it is unsecured consumer credit and goes into an IVA on the same basis as any other unsecured debt.

Can the new owner take me to court? Yes, if the debt is genuine and within the six-year limitation period. Respond to any claim form within 14 days.

What if I never had a Cash Genie loan? Write to dispute the debt and request proof of assignment plus the original agreement under CCA s.77/78. Until they provide it, the debt is unenforceable.

Related guides

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• Lowell Financial — common payday-debt purchaser
• Cabot Financial — common payday-debt purchaser
• How long can I be chased for a debt?
• Can debt be written off?
• How do I apply for an IVA?