Quanta law scam

Ange_01

Has anyone else had a claim for mortgage interest reclaim with quanta law ?
I feel I stupidly signed there documents and now I'm worried as they say they are taking out a "soft loan" in my name to pay for it 

[Deleted User]

It's almost certainly not a scam, just a very poor quality service that people like to sign up for.

What exactly have you signed up to? Is this 'soft loan' for an insurance policy you'll need to buy to cover your legal costs when your complaint fails? 

dunstonh

Be wary of accusing a company as a scam.   As mentioned, it is not a scam and that leaves you open to potential legal action.   I would recommend editing your thread title to remove the scam word.

However, it is an area that has no known successes.  Indeed, some companies have admitted they have had thousands of people signed up but never had a success.     Those companies often make money by getting people to invest in litigation with the promise of success resulting in profits but in the meantime, the company can take its fees out of the investor's money and it is the investors that lose out.    Others get people to sign up to credit agreements and the company makes money out of that.   Some say no-win-no-fee but then come back later in the process saying the solicitor needs paying for and you can either pay £x or take out a loan which will only become active if you lose but they say you won't lose as they wouldn't proceed if that was going to happen.   Some just get people signed up and sell the leads to solicitors 

So, it is an area you do need to be on guard with and given the lack of successful cases and the potential for you to end up in debt, it is something that is usually best avoided.

Ange_01

I signed a document and stupidity I feel now didn't realize that they take out a soft loan to cover costs in case I don't win the case , I feel very uneasy about it now I've since read some reviews on trustpilot and all bad saying don't do it ! They are scammers

I've rang them this morning and they say I can't get out of it now or I'll pay thee cost for what has been done already
Have you heard anything about them ?

[Deleted User]

As explained, they're a law firm that get people to sign up for complaints that have a very low chance of success. They're not scammers but they rely on people's greed, as such people are less likely to actually consider what they're doing, as they're blinded by all the pound signs.

Check the terms of your contract to see if you have a cooling off period and what costs you may be liable for if you pull out, compared to if you continue.

You need to approach this logically, not emotionally.

The_squirrell

I am no fan of this firm for many reasons, and agree with the comments from dunstonh and ZX81 above. The agreement that you signed from Quanta is tough to understand for most people, but the section on cancellation outside of the 14 day's states....

"The Client shall be entitled to terminate this Agreement at any time outside of the cancellation period by sending written
notice to Quanta Law, and in such event Quanta Law may elect either: a) that the Client shall immediately pay Quanta
Law fees calculated with reference to the time spent by Quanta Law’s employees and Directors in the conduct of the
Case from the Instruction Commencement Date at the then prevailing relevant Court Hourly Rates adjusted having regard
to changes in the Consumer Prices Index as at the date the relevant work was performed, Counsel Fees, Legal Expenses
and VAT if applicable incurred to the date of termination and to be necessarily incurred thereafter, together with any sums
which are outstanding under the Funding Agreement; or b) that the Client shall pay the DBA Fee, subject to paragraph 12.1
above, if the Success Criteria are subsequently achieved"

It's a shame that all this didn't put you off signing in the first place

Ange_01

I couldn't agree more and can't believe I did ! What can I say, desperate times..
I signed the document in my previous married name I've since changed my name, they haven't asked me to sign a new document . Do you know if this will now be void or am I just clutching at straws !?

[Deleted User]

No, the contract doesn't become void because you changed your name.  You're still the same person.