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Quanta Law - Misold interest only

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Chewitt1973Chewitt1973 Forumite
1 posts
Hi, I've received a digital form to sign from Quanta Law. This originated from Mortgage Claims. We filled all the paper forms in and I did sign a digital form initially to say I was ok with our case being transferred to Quanta. However, the form I've received today doesn't have any real explanation, asks for my income and is for a loan of £6300 to cover insurance and legal fees. It also has a claims amount, that is quite a substantial amount more. I rang them and it was explained to me that the loan will be taken out by Quanta but that I'm not liable, because if the claim is successful this amount will be deducted and included in their 35% + vat fee. If unsuccessful, they can claim.this fee back by way of insurance. I asked why it's only asking for my details, as is a joint claim and also if they could email me this info, buy they just offered to call me back to read through it. I've read in a previous thread, the claim is likely to be unsuccessful but just want to check here as we were sold a mortgage after 2005 with GMAC who 'sold' the mortgage on. Our mortgage has been sold on several times since. Grateful for any advice :question:
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Replies

  • -taff-taff Forumite
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    Don't bother. It's highly unlikely your mortgage was missold. This is another string to claims companies bows now that the PPI cash cow has departed.
  • [Deleted User][Deleted User]
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    the form I've received today doesn't have any real explanation, asks for my income and is for a loan of £6300 to cover insurance and legal fees. It also has a claims amount, that is quite a substantial amount more. I rang them and it was explained to me that the loan will be taken out by Quanta but that I'm not liable, because if the claim is successful this amount will be deducted and included in their 35% + vat fee. If unsuccessful, they can claim.this fee back by way of insurance.
    If you believe any of that, I've got a bridge across the Thames to sell you! :)

    What you describe is advance fee fraud.
  • The_squirrellThe_squirrell Forumite
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    Absolutely not!


    The "insurance" they mention is not worth the paper it is written on. There will be so many T&C's that make this worthless and guess who will be left to foot the bill (Search Allansons Solcitors for what can go wrong)

    The figures they quote are purely speculative and have absolutely no facts to back them up. Having seen a few of these now, they are almost laughable. Lots of legal mumbo jumbo, lots of previous case details....0.1% facts and 0% chance of any refunds.
    Advance fee fraud, scam, hopeful punting, chasing lost causes....call it what you will, but save yourself the stress. Ask for all your personal documents back and move on with life.
    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
  • wowfraudwowfraud Forumite
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    Insurance Scam??. They will tell you you definitely have a claim and then use your details to create a claim against a company/lender then they take out insurance against the claim on the basis you might not win the case and they need to be insured against the "lost billable hours working your claim", ha ha ha. low and behold you dont win anything against your mortgage company and they then probably claim on the insurance for "billable hours" that they have been filing on your "claim account". Works perfectly for them because it hasn't cost you anything but time spent chasing them so nobody can make any type of claim against them they can just keep stringing you along as long as it takes for you to give up.
    Eventually you give up contacting them and they have most likely already had the payout from whichever insurance company under wrote the policy against the loss.
    They have a connection to another company, Quanta Law, based in Manchester who are the 'legal team' that will be taking your case. Then you have the mortgage.claims website who are a trading name of Quanta Law Ltd. who also have terrible reviews.
    Trusted Mortgages seems to be a trading name of Elite Chambers Ltd (turnover filed for 2019 £61,077 and with staff costs of circa £28,000 which would suggest there are not the swathes of people in an office working on your behalf as they would have you believe) also based in Manchester run by a Criminal Law Barrister, Michael Levy, who specialises in defending people and companies who have been accused of fraud and serious crime.
    My advice would be to stay well away, although it may not be directly harming members of the public financially, it is likely that it may be insurance fraud and therefore it indirectly affects the public by way of inflated premiums due to inflated claims etc
    I must stress that this is a formulated opinion based on the information I have found online which is free to access. All above info is freely available by searching companies house etc in order to formulate your own opinion.
    I would also advise people to send an official Subject Access Request (SAR) to both Trusted Mortgages and Quanta Law if you have already signed the terms and conditions that they sent you in order to confirm that they have actively used your personal data. In this they should have copies of correspondence that they should have sent to your mortgage company in order to file a claim against your lender. You can cross reference this with your lender to see if Quanta Law have filed a claim on your behalf. You can then make a suspected insurance fraud report to the Government Insurance Task Force or ABI or the insurance fraud bureau.
    And remember... If it seems to good to be true.........
  • edited 4 June at 8:01AM
    The_squirrellThe_squirrell Forumite
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    edited 4 June at 8:01AM
    I would just point out that the Mr Levy you refer to above is not quite correct. While there is a criminal lawyer by the same name, this is definitely not the one. The one in question deals with "lower level issues" and a bit more Googling will turn him up (just use the full name). The OP relates to Quanta Law while the majority of your post relates to Trusted Mortgage Claims.
    To Clarify, TMC do pass some of their cases across to Quanta Law, so there is a link but Quanta are run by others.Having said all that however.....they are both as bad as each other. You wont see a penny of any "claim". It may end up actually costing you instead.
    Its a simple business model. They tell you that you are owed thousands.....you bite, take out a loan and wait and wait and wait and then it turns out you have no claim.
    I see that your review was swiftly removed from a well known review site :-) They like to do that!
    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
  • wowfraudwowfraud Forumite
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    I would just point out that the Mr Levy you refer to above is not quite correct. While there is a criminal lawyer by the same name, this is definitely not the one. The one in question deals with "lower level issues" and a bit more Googling will turn him up (just use the full name). The OP relates to Quanta Law while the majority of your post relates to Trusted Mortgage Claims.
    To Clarify, TMC do pass some of their cases across to Quanta Law, so there is a link but Quanta are run by others.Having said all that however.....they are both as bad as each other. You wont see a penny of any "claim". It may end up actually costing you instead.
    Its a simple business model. They tell you that you are owed thousands.....you bite, take out a loan and wait and wait and wait and then it turns out you have no claim.
    I see that your review was swiftly removed from a well known review site :-) They like to do that!
    Hi Thanks for that and for pointing me right on a few issues above. As i had said it was just some general digging i did born out of sheer frustration at the way they have duped me and many others and so I am making it my mission that they get found out for what they are. I would encourage anybody to do the same and check with companies house to see the way the businesses are run. And yes the well known site you are talking about removed my comments which i knew they would but I will continue to review them everywhere i can to warn people off. The well known site you are referring to are flawed in the model. I have a website and it has 5 stars over 5 years i got 1 bad review and the 'well known' were on the phone next day offering a aid monthly account in order to be able to respond and basically censor the reviews. seems like it would be stacked in favour of the person paying for the monthy account. But just my humble opinion.
  • The_squirrellThe_squirrell Forumite
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    I deal with these cowbo##....sorry, companies on a daily basis so i know exactly how they work. I fully support your mission!
    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
  • NaughtyhorseNaughtyhorse Forumite
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    A message to 'The Squirrel' and especially 'wowfraud'. As fun as it is to read your conspiracy theories, I'm afraid you clearly don't know much about ATE insurance. If you did, you'd know that the 'fraud' you think you've uncovered isn't possible. ATE only provides cover for cases with a reasonable prospect of success, but which ultimately are unsuccessful. If a law firm were to start making higher than expected volumes of claims then the insurer would immediately stop paying and probably avoid the policy, as it would quickly be obvious the lawyers were taking on cases likely to be unsuccessful. And they would never get cover elsewhere, meaning they would end up out of pocket. Insurers simply don't make enough profit to be so cavalier about paying claims without investigating whether or not they're legitimate.

    If you're wondering why you've not been able to get the ABI, the IFB, or anyone else interested in this so-called fraud you've uncovered, it's because there isn't any.
  • -taff-taff Forumite
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    No one's said anything about fraud. Just claims companies looking for another cash cow.
  • The_squirrellThe_squirrell Forumite
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    An interesting first post from Naughtyhorse.Thank you for taking the time to register and make the post!  As -taff said I have not used the word "fraud" anywhere in MY posts and fully understand ATE insurance. What I would say to anyone is that the marketing makes it sound as though ATE insurance is the Holy Grail, when it is not. If it works, then all well and good....if it doesn't then I will refer anyone to a few Google searches for Allanson's Solicitors (another law firm) who also offered ATE insurance. ATE insurance is only a small part of the issues with these firms and perhaps Naugtyhorse would care to enlighten me and others further about the thirty odd pages of documentation that Quanta and others expect a man in the street to read and understand before signing up to the DBA. happy to discuss!
    I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!
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