I hope by now you have an idea if you are staying in the Deepwater Horizon Settlements or opting out. If you do nothing you are automatic staying in the Deepwater Horizon Settlements and waiving your right to trial by a jury. You have to accept what the Deepwater Horizon Settlements offer you.
This decision is yours alone to make and I hope reading my blog and others have helped you reach the right decision.
Below I will provide details of Opt out information just because if you do nothing you are in and don’t need help but if you want to opt out follow the guide below.
Guide to Deepwater Horizon Settlements Opt Out.
Firs to be sure remember this, each claim stands on its own so each claim needs an opt out form. A personal claim, a business claim and maybe a real estate claim. Its normal that people have more than one claim and you would need to opt out all claims with different opt out paperwork.
Write a letter that stat states the following for each claim you have. Please include in the letter the person or entity your are opting out.
Example Opt out letter.
” I Kelly Smith, 5432 main street, Pensacola,Florida. Social security # xxx-xx-xxxx wish to be excluded from the Economic Class.”
Make one letter for your personal claim, one for your business claim and so on. Send it off before November 1 2012 to:
Deepwater Horizon Court-Supervised Settlement Program
P.O. Box 222
Hammond, LA 70404-0222
This will get you opted out of the Deepwater Horizon Settlements / BP Settlement and you are now free to go and get you an attorney to file suit against BP in the courts.
What happens after Opt Out ?
After you have send off the opt out letter keep a copy for yourself and for your attorney as he/she needs to see that you did that. Now you need to find yourself and attorney that will file your case with the MDL and take it to trial. Fill out the free case review if you need an attorney. The attorney will then file with OPA for you and after OPA if there is not results the case will be set for trial.
What to expect before trial for your BP Claims
This is going to be the most interesting part of the BP Claims process when the attorneys can set a trial date and work up the case and take depositions and get ready for trial. No attorney will tell you this and since I am not one I will tell you this right now. The money you can get out of BP on a settlement before trial is going to be crazy. I suspect a $100,000 offer in the BP Settlement will turn into a $1,000,000 settlement before trial.
Now why is this ?
I will answer that with another fact, in the Texas city Explosion BP paid victims something like 1.5 Billion dollars (6,000 victims) but they paid their defense counsel something like 2.1 billion dollars. Now expect over 50,000 cases to go to trial, can you see what expenses BP will have in their defense counsel to go to trial all over the gulf in different cities. Another reasons BP will settle at any price is their stock price. If BP goes to a public trial with a shrimper or fisherman and have to listen to how they did not pay this man for 3 years when he clearly had a loss. The bad publicity will directly affect the BP stock price. With every $1 BP share prices goes down the company losses 3 Billion dollars. BP will do anything and everything to settle as many cases before trial at what ever the number. Now attorneys will not tell you this as they can’t promise you anything because they can get it trouble for it later, but you do the math on what I just wrote and find where BP has a chance to get out without huge settlement numbers.
Big Business Cases and Seafood Harvesting and Processing
One could speculate in a big business or seafood harvest or processing claim that was well documented and for business and people that have the time to wait for the real big money. If you are in this group on people and want to talk to me more about what you should be doing send me an email at firstname.lastname@example.org with your phone number and I will personally call you back and have a talk about your claim with you. I will guide you through the jungle and get you with the best people for trial against BP.
Now remember if you do nothing and you are a class member, meaning your are in the zone of Florida gulf coast, Alabama, Mississippi and Louisiana you are automatic in the class settlement and do not have the right to trial unless you opt out.
Now for many people with smaller claims the right thing might be to stay in the class settlement and if you need help with filing paperwork and forms we can help with that as well.
As I talked about in the post last week the BP claims settlement with the attorneys are very close, if you missed this post go down below this post and see what I expect as new multipliers for people with legitimate claims.
If you have an attorney already or you are with Brent Coon & Associates as most people reading this blog are, you are set and your settlement will go though the attorney steering committee when the settlement is announced.
If you are still not represented by an attorney its time to get in on this an request the representation of Brent Coon & Associates fill out the form on the right hand side of this page. After you have filled out the form you will be taken to the request for representation page for Brent Coon & Associate.
Its very important for your claim and for Brent Coon & Associates to take your case that you can prove your losses. Its also very important that you can tie those losses to the BP oil spill, and not just a case of the general economy.
If you have a legitimate claim and if you have not been helped by the GCCF or even been denied by the GCCF, we want to see your BP claim.
Smoking Gun Before the BP Claims Trial Guarantees settlement
The worst thing that could happen to BP would be a finding of gross negligence this could cost BP over 50 Billion dollars and could introduce punitive damages for many of the BP claims today with the attorneys.
So the smoking gun was the phone call that came from Donald Vidrine, the senior BP manager on the Deepwater Horizon rig on April 20, 2010, he talked with an engineer about unsatisfactory well tests less than an hour before an explosion killed 11 workers on the rig.
Donald Vidrine nor the engineer did anything about these unsatisfactory well tests and this negligence then caused the biggest oil spill in US history. This is central to the case and to much of a gamble for BP to risk it all at trial.
BP Claims Settlement Should Give Real Money To The Victims NOW!
This BP Claims settlement that the attorneys are negotiating right now will give real money to the victims of the BP oil spill and it will give people and business money in a timely manner.
It will make the multipliers higher and it will give people that live off the water a possible bonus payment as these people could possible have gotten punitive damages at trial.
So what can we predict about this BP Claims settlement ? First off it will be much better numbers than what GCCF are going out with to people. Why ? Well because the attorneys have to get a better settlement than what can be had though the GCCF or they would go to trial with every single case and get the money at trial.
What do you need to do to be part of this settlement ? First you have to be represented by an Attorney. If you are not with an attorney today get with one now as this thing will go down in the next 7 days.
How fast will money be paid out ? First off if you have a case that has already been worked up by a CPA or claims processor for the attorneys the money could come very quickly. Like within 30 days of this settlement. If you have not presented proof of your losses yet to the attorneys this needs to be done first before you can get your BP claims settlement payment.
No more GCCF bullshit and no more denials on fake grounds and playing games with a low ball offer.
If this settlement get put in place, the GCCF will have to follow the numbers of the attorneys settlements or they will be out of business.
What Should You Do Now ?
If you are already with an Attorney make sure that he has worked up your case, make sure that you have provided documentation for you case so he can work it up.
The number one thing we are missing are for business and individuals to send in their paperwork to get their case worked up.
If you are still not represented by an attorney or if you have had somebody else work up your case for you that are not an attorney you need to move your case over to an attorney NOW.
If you have followed this blog for a while we provide attorneys and you can sign up by filling out the form on the right hand side of this page.
When Will We Know About This BP Claims Settlement ?
If we get the BP Claims Settlement that we are hoping for it will be in the next 7 days, so we are very close and there is no time to waist right now in getting this done.
You can file you claim with BP for the next year but as you want your claim paid off as soon as possible getting in on this now is important. Keep an eye on this blog my next post will be about the BP Claims settlement and its structure.