A list of music industry figures are owed cash by the stars and Margit Semal, who controls their career, says the Mail on Sunday.
Graham Stone, of Devon music agency Vegas Entertainments, said: "I've been in the business for 35 years and I've never encountered anything like the trouble I've had with Margit Semal. We've been to court five times and got nowhere."
His lawyer Chris Donnison told the paper Semal conned them out of £5,000. "In August 2005, we got a judgment against Mrs Semal for £5,000, but there has been no payment," said Donnison. "We're starting proceedings for her property to be sold."
And Barry Upton, a former singer and now successful producer, spoke of his dealings with the trio, which began in 2004. "I wrote a song with her," he said of Margit. "She's not a musician but she knows what she wants. The result was 'Cheeky Flamenco' and 'Hey Boy'. She wanted to release it independently, so I put her in touch with a video guy and a distributor and a price was agreed.
"The single went into the Top 40 and there was also a follow-up Christmas record, 'Boys & Girls (Xmas Love)'. But nobody got paid."
Upton said he was owed £8,000 along with the video producer, while the distributor was owed around £20,000. Another loan of £70,000 was taken out to fund a single which never came out but was never repaid, says the paper.
Semal denied the report. She commented: "The Cheeky Girls and I do not owe any money. Our company's invoices are all paid on time."