I got a letter from them this morning saying they had gone bust. I suspected this was the case last week so have made contact with a local letting agent and asked them to takeover the management of the property. Suggest you do the same pretty quick.
I'd suggest getting in touch with your tenants and changing the destination for the rent to wither your account or a new management company. Worth phoning your mortgage company and getting them to check that no payments are outstanding and changing the payments to come from your account so that you don't get repossessed.
Not sure where I stand legally if I'm honest but I've given them a week to get in touch and they haven't so as far as I'm concerned BF can ram it. Not prepared to take the risk while they sort themselves out.
I've had a similar letter today, although I'm less certain of what to do. My Blue Forces Property Management Account should have a considerable amount of my money in it (into thousands), so I can't just say ram it to BF. Has anyone already sought legal advice regarding this situation?
Update 12 0900Z FEB11
IF YOU ARE NEW TO THIS THREAD (PARTICULARLY IF YOU ARE A BF CLIENT) PLEASE READ HERE:
IMMEDIATE ACTION DRILLS. If you had a property managed by Blue Forces and you've only just found out about them going into liquidation, then there's some things you need to do ASAP. First and foremost, arrange for your mortgage to be paid from your normal personal bank account. To save time on getting a feel for what's happening and what to do next go to www.blueonblueforces.co.uk - read everything there and send an email to them so you receive updates directly.
THIS THREAD. Once you've done the above then do read through this thread as there are some nuggets of advice that may be relevant to you. If you do want to make posts on this thread, or contact the various companies involved, please bear the following in mind:
1. This is a public forum that anyone can read. Please avoid discussing any specific legal action that us BF clients could/will take with regards getting as much of our money back as possible. Use PMs or add yourself to the email list at blueonblueforces.co.uk (I've confirmed this is run by legit people via DII emails), until a private forum is made available.
2. No matter how angry you are, please do not leave threatening comments on this thread and do not abuse the staff at any companies you call in relation to the Blue Forces liquidation. Be polite as business like. We would not want aggressive or inappropriate behavior preventing us from doing business that will help get us out of the mess BF have left us in.
We've just re-routed everything to ourselves now, as could not afford to wait to miss a few mortgage payments. Contacted the bank, we're up to date there, life insurance company is fine.
Contacted the local letting agent, and they are not paying anything to BF now, sadly not quick enough for this month's rent, so we've probably lost that. BF didn't even let them know of their liquidation, they've only found out through anxious phone calls such as ours. Annoying thing is had some detailed comms with BF earlier this week, with no indication of any trouble.
Not sure what's happened to all the extra money held by BF on our behalf though. Rough and dirty calcs indicated it's quite a lot.
So, now the IA drills have been completed by my sharp eyed Mrs Spanner whilst I was in the death throes of yet another fri pm meeting, am downing a G&T.
yes same here the twats have taken our money even after all the promises of them saying they are sorting it all out the last few weeks............ Even their website has been taken down now!
I spoke to the insolvency company they have reported to and they tell me it is doubtful that there is any money to give anyone! On top of that they told me it was my reponsibility to sort out my mortgage now. I had spoken to the sub letting agent who guess what had no idea they had gone bust.
Nice one MOD encouraging us all to use Blueforces..............
You wont get any joy though they were not overlly interested and told me there was little hope of getting any of the thousands Bluedicks have of mine............ The MOD is keeping quiet eh! Maybe another story for the sun!
When I started with Blueforces back in 2005 the question was asked 'what happens if you go bust?'. The answer was that the Property Management Account (PMA) was a bank account that we could just take control of again (clearly we'd need to make new arrangements for the management of the properties). I've even got initial documentation from Blueforces that says that is what they do. However, I've never had any indication of which bank the PMA accounts are with, let alone what the account number and sort code might be. If we were basically lied to at the start, and the PMA is just an account with Blueforces, I fear we're proper screwed (and I'm about £5k down). The last PMA statement I managed to get out of Blueforces was the one for FY 08/09. Like many others I was chasing my account statement for FY 09/10 to complete my tax return. Do I now just get back to hmrc and say that I've had no rental income because Blueforces have lost it somewhere?
Does anyone else know more about the status of the PMA accounts?
Not sure as I have all the documentation filed it will take me a while to go through. The missus has just had a brain tumour removed and this was the last thing we needed.
My main problem is that Blue forces told me last summer that the property rental company in Nottingham had done a runner with the rent. We used the rent protection system to get it back (allegedly) and I managed to get a couple of grand out of them.
In November a new set of tenants had moved in and Blue forces told me that they would be managing it themselves as they did not trust anyone else. I am now completely stumped as to where the rent is now being paid if Blue Forces have gone bust.
Apart from trying to contact the occupants (and why would they talk to a stranger) how do I get the rent payments changed to myself any help greatly received.
IS Ski Geek,
My property is also in Nottingham, although I wasn't informed of any rental income problems by Blueforces. They did, however, send me stuff about them directly taking over managing the properties following issues with the local letting agent. I won't go into specifics on a public forum, but it may be worth sending me a PM in due course if it becomes necessary to form a new strategy for us Blueforces casualties with Nottingham properties.
I'd be interested to hear from anyone who's recently actually spoken to someone from Blueforces in the flesh (there must be a few customers in the Colchester area who felt the need to do this recently). It really would be useful to get the inside track on what's gone wrong in Blueforces and whether they really have lost/wasted/squandered/stolen our money. If our money (albeit badly managed) is still in some PMA accounts, then that's something. But if there really is nothing left, then there's little point in spending money on seeking legal advice (even if this is a joint action) to recover an equitable share of zero.
We have also been left £6k+ out of pocket. The MD's (Paul Smith) email of 26 Jan 11 assured us all that everything will be OK and compensation would be paid out, however he did also promise tax returns last July! Surely if he knew the company was in trouble (i.e. the insolvancy letter is dated 12 Nov 10) then his economy with the truth amounts to fraud; perhaps this is a Police matter?
I would also hope that the fact the Army encouraged soldiers to purchase property, through endorsed agencies like Blueforces, they will take some responsibility.
It would be interesting to know who is on the Board of Directors...!
I think the wrong date on all the insolvency letters is a bit of a Red Herring, as it is exactly the same date of the letter sent out before Christmas telling us how hard the team were working to get our account details sorted in time to file our tax returns. I'm fairly certain that Paul (or whoever...) took that previous letter and changed the main text, but forgot to change the date. More sinister is the email Paul sent out last week assuring us that the account summaries were on their way (as long as we didn't keep phoning and emailing him). He must have known things were on their way down the tube at that point and quite blatantly lied to us.
I'm stuck out in Afghan and have just been hit with this. I don't know what to do. My property is near Hull and I don't have any details relating to the estate agent the Blueforces have used. I don't know where to start! Stress that I do not need!! Thank God for this thread cause at least I know i'm not alone here!
Flash2bang, I agree, little point in spending money chasing nothing, so initially proposing to gather everyone together who is affected in order that we can share info about this. If there is (by some miracle or integrity on the part of BF) some money left, then at least we'll be able to collectively voice our claim to it, and also sort things out for those who are deployed abroad.