I have gotten a lot of question from people that ask me if they can do their BP settlement themselves. My answer is yes you can do the BP settlement yourself, but you might as well go to Las Vegas and try your luck on the roulette.
That is about the gamble you will be taking when going into the BP settlement with out an attorney to guide you. Why is that you ask ? because the BP settlement is may up by attorneys and the very complicated language that is associates with the different claims you can file and when you qualify for one claim and one payout and one multiplier its very complicated trust me I read the 1022 page document.
The attorney will work all you documents up for you and give you a number before opt. in to the BP settlement, you will not go in blind not knowing what you are getting before you opt in.
They will tell you here is the number we want you to sign off on before entering the BP settlement. If you get this number will you sign a release before entering into the BP settlement.
If you go by yourself you will opt in to the BP settlement with out possibility of ever opting out. You will sign a final release with out knowing the number you are getting.
If you Opt in to the BP settlement you sign a release before knowing what they will pay you please understand that part.
Why Don’t I Use A Consultant To Do My Claim They Are Cheaper ?
If the consultant has enough money to pay you after you file a lawsuit against him after he screws up your BP settlement claim then I would say for sure go with a consultant.
Because then you have two option go in blind to the BP settlement hope as hell it lands on your number, if it does not file suit against your “consultant” for his misrepresentation and guidance in the matter.
This is a legal settlement and the last time I check a so called consultant can not give out legal advice.
So how will he advice you if its correct to opt in to the BP settlement or not ? Short answer to that is he can’t so he will make you take the decision again for all the money if you should opt in or out of the BP settlement.
So if that is the case why do you need a consultant ?
Here are your 3 option in the BP Settlement
1. Do it yourself take a gamble
2. Hire an consultant and file suit against him if the gamble does not work
3. Fire your consultant and hire an attorney right now.
I know that attorneys are expensive yes they charge from 25% -33% of what you get in your claim and if you feel like you claim is not worth that then choose option 1 or 2 . If you feel like you have some serious money coming your way and don’t want to gamble on the amount then fill out a form and hire an attorney to handle your case. If you like filing suit and get money from people that screw up sign up with an consultant and remember to ask them what kind of policy they have in place if you have to file suit against them one day. Find out how big a company you are working with, find out who you are working with.
What Does An Attorney Offer In The BP Settlement Process
When you first fill out a form on this website from our advertisers you will find nice people that return your call and will talk to you about your BP settlement case. After having a little talk about your case the attorney probably want to sign you up if your case is good. After you sign up with the attorney you will have to provide the documents the attorney is asking for. When the attorney has all the documents he will send your case to the CPA that will work up your case and present the numbers on the case to the attorney. When the attorney gets you case back from the CPA with the numbers he expect you to get, its time for the attorney to advice you what you best options are for maximum recovery. After he has adviced you what you legal rights are in the BP settlement and by going directly to BP with your case its up to you to decide if you want to take your attorneys advice or if you want to do something different. Its your choice in the end but I will strongly suggest that you list to your attorney as that is why you hired him in the first place.
I Made A Mistake I Want To Fire My Consultant
I know it happens to the best of us, so how do you go about getting out of the contract you sign with him.? Here is what you do. Hire an attorney and tell him about the company that you sign a contract with for consulting work, the attorney will help you out of the situation as in many states the percentage or contingency fee the consultant is charging your are illigal in most states anyway. The attorney will get you out of the contract in no seconds flat with a simple phone call or letter to the consulting firm that you have sign up with. Don’t worry about that the import thing is you corrected the mistake before it became costly to you and no harm was done to your claim and the attorney will treat your claim the same as the other claims he is working up. What the consultant did for you will not be use in way as the CPA the attorney has will be more trusted in the BP settlement anyway. Get your claim over to an attorney today from a consultant by simply telling the attorney about the consultant that you sign a contract with.
“Getting thrown under the Bus not once but twice”
in the new proposed BP Settlement
In the latest published proposed settlement Wednesday, April 18th, 2012 we have learned that Charter Boat vessels are being treated unfairly while other commercial vessels are receiving fair and adequate settlements.
There are two major injustices to address:
VoO Should Not Be Deducted In BP Settlement
First …at the beginning of the oil spill BP authorized meetings, to recruit vessel owners for the vessels of opportunity program, which were held along the Gulf Coast at many marinas and town halls. BP told all applicants ( commercial shrimpers, commercial finfish fisherman, commercial charter and recreational vessel owners) that if they agreed to work in the VoO program any earnings would not be deducted from any claim they might have. Also to confirm this agreement BP attorney A.T. Chenault wrote a letter dated May 3th, 2010 “ Lastly we confirm that BP will not offset payments to vessel owners or other volunteers against claims they might have.”
After reading the 1,122 page settlement we have discovered the following: Commercial charter boat vessels will have to pay back 33% of their prior VoO earnings plus 50% of the unpaid VoO settlement payment. ( Note: 33% represents approximately 100% net profits after subtracting taxes and expenses for most vessels)
Recreational Vessels without a loss of income will get to keep 100% of prior VoO earning plus 100% of their VoO Settlement payment .Shrimpers, Oystermen, Finfish Fisherman will also receive 100%. of VoO settlement plus get to keep 100% of their earnings.
Commercial Charter vessels worked side by side each day along this group of fisherman attempting to protect our beaches and wildlife. They each did the same job and took the same risk being exposed to the dangers caused by the oil spill. Now two years after the fact BP now wants to reduce the charter boat’s settlement by deducting VoO earnings.
GCCF refused BP’s directive to deduct VoO earnings from Charter Vessels. Mr. Feinberg knew this was not fair ,and not the agreement, and refused to subtract the earnings in their September 23, 2010 Written Notice.
BP made commitments to the VoO participants verbally and in a written confirmation by their attorneys in a attempt to engage professional captains and vessel owners into signing this contract. After the work was completed and the oil well plugged BP is taking the position of wanting their VoO money back. Not all monies only the commercial charter boats money back.
All groups should be exempt from the VoO deduction not just a select few.
Commercial Charter Fishing Get Same Multiplier As T-Shirt Shop
Secondly, Commercial Charter boat vessels share the same natural resources as the commercial finfish Vessels. Both groups share the same risk if there is a negative impact from the oil spill on the Gulf of Mexico fisheries. The Risk Transfer Premium is the amount paid to a Claimant for any and all alleged damage, including potential future injuries, damages or losses not currently known, which later can manifest itself or develop, arising out of, due to, resulting from, or relating in any way to the BP oil spill.
The RTP for a commercial finfish vessel is 6 times their loss while Commercial Charter Vessels are 2.5 times their losses which is the same a T-Shirt shop on the beach. If a negative impact happens both fishing groups will suffer equally and will no longer be able to continue their businesses.. Just a 10% negative impact on Red Snapper and several other species could shut down those fisheries indefinitely.
If the risk is equal then the RTP should be equal.
How can this settlement be a good and fair one if the Commercial Charter boats opt out?
This settlement does not MAKE IT RIGHT as BP’s commercials had stated… BP needs to stand behind their promises and commitments to all the people of the Gulf of Mexico.
BP Settlement for the Seafood People Not Charter Fishing Boats.
If you are in the seafood settlement the VoO payments will not be deducted from your income as it says.
“No other reductions to the compensation amount under the Seafood Compensation Program will be taken, including
compensation received for work in the VoO Program” page 382
According to the letter from the BP attorney no VoO boat should offset please see the letter here.