Finally a good story about real people with their BP claims in the GCCF process, from a reader that submitted her small business claim to one of our attorney’s. She was offered a $25,000 Quick Pay by the GCCF in April 2011 like so many other have been.
This small business owner was smarter than so many others. She did not take the GCCF Quick Pay. She submitted her claim with us on April 6 2011 and was put in contact with a great oil spill attorney. He took her case telling her that since she had already received an offer of $25,000 he would only charge his fee on anything above the $25,000.Very nice and fair way of doing business I got to give it up for our attorney friend.
GCCF Claims Done Right
The attorney took 30 days to get all the documentation and supporting documents together, and submitted a new claim for the small business owner. This week he got back an offer for $190,000 for the same claim that GCCF had already said was only worth $25,000 without the help of the attorney. Most people can see from this real life example why staying the course and using an attorney makes a lot of sense in this game the GCCF is playing. If you get an offer from the GCCF and you feel like they are not correct in their numbers contact an attorney and see what he can do for you.
GCCF Denied Claim
The same is really the case if the GCCF denies your claim, or keep asking you for more paperwork. I have talked to people that submitted claims back in January 2011 and GCCF are still asking each 90 days for more paperwork. Its like they will let the 90 days go by before they ask for more paper work. Just stringing you along and letting the time go by. So if you have been denied by the GCCF or are still trying to provided them with more and more paperwork, talk to an attorney. Its a free case revue so you really have nothing to loose. Also if you do hire the attorney to do up you claim for you, the attorney is not paid until you get paid. So when you get you settlement offer from the GCCF and accept is, that is when you have to pay your attorney.
GCCF interim Payment
In the review of the small business person I mention in this post its important to note that she was offered both an GCCF interim payment and a GCCF final review payment as her offers when it came in this week. Very few people are getting offered GCCF interim payments as GCCF want to finalize with victims now so the BP claim does not get higher over time. So when a GCCF claim is done right by an attorney the GCCF in 60 days have made this small business owner a fair offer that she will now accept. Another thing that is good to note is that the business owner had her losses at around 160k when she first talked to the attorney. The attorney found another 30k in losses and by doing so paid his fee out of losses the business owner had not even realized where there. So all in all a great story about how people that know what they are doing can get great results when dealing with the GCCF.
BP Claim: GCCF Vs. Settlement
Even before BP dumped all of their oil into the gulf, gulf coast residents had a lot to deal with, just like everyone else. People are busy making ends meet, taking care of their families, and keeping their businesses running or working hard at their jobs. Now that the oil spill wrecked a lot of people’s livelihoods, those same problems didn’t go away, but now there is a whole set of new ones to figure out your BP Claim. Who has time to do a ton of research on the best way to get the money they deserve through a BP claim? I’m going to do my best to break down the difference between getting a BP claim through the GCCF or doing it through an attorney.
The main things everyone needs to know about their BP claim are 1) How much money will I get? and 2) How quickly will I get it?
How Much Money Will I get for My BP Claim?
For starters, let’s go over the amount of money you would get from each. The GCCF has been delaying people to make them desperate so they will accept their quick pays of $5,000 personal and $25,000 business, so those amounts are what most people will get if they stick with the GCCF for their BP Claim. If you’re looking to get more out of a final claim, the GCCF will probably just keep delaying or denying you. You might get lucky and get offered a little more, but it still probably won’t be as much as you lost.
If you decide to get some representation and take BP to court, the amount could vary a lot from person to person, but it’s pretty safe to say it’s going to be closer to what you deserve than those crap quick pays the GCCF is so eager to get you to accept. The reason you will probably get more out of your BP Claim this way is that a lawsuit will give you compensation for up to 3-5 years of losses (which is likely what you will actually lose) instead of the set quick pay amount the GCCF will try to force on you. Even if you get offered a final settlement for your BP Claim through the GCCF, it will still probably only compensate you for 1-2 years of losses.
How Fast Will I Get my BP Claim Money?
It seems like it would take longer to go through the courts to get paid than through the GCCF, but there is a little more at work here than you might think. Firstly, if you take the quick pay, you will probably get it after the 90 days the GCCF promises. If you want an interim or final payment, good luck.
The GCCF loves to delay BP claims by taking longer than the 90 days they say they will. Then once they finally get around to processing your claim, they usually delay by asking for more documentation on your BP Claim (documentation that they don’t need). Once they finally have to finish delaying, they will often just deny you even if you have a good claim, or they will say they overpaid you for your emergency BP Claim payment (which is a lie). After all this, it could be a long, long time before you see any money from the GCCF, if you ever get any at all.
If you decide to go with an attorney, you could get a settlement for your BP Claim in as quickly as 60 days. That’s not always the case, but it’s pretty common. Most of the time, you can get a settlement before the GCCF would have finished processing your claim. There are a few things you should know if you decide to do this to get your BP claim though. First of all, if you take a settlement now, you will get the money faster, but you might not get as much as if you wait.
Why Is It Like This?
The reason you might be able to get more if you wait on your BP Claim is because there is a big lawsuit to figure out which companies are liable for the oil spill, but it’s not going to happen until February 2012. If you are able to wait until then to get your settlement, you will probably be able to get compensated a lot more for your BP Claim. If you can’t wait that long because you have a mortgage or other reason you just have to have the money now, you can still get a settlement for your BP Claim quickly, it just won’t be quite as much. It will still probably be a lot more than a GCCF quick pay though.
The Bottom line is, going for a settlement to get your BP Claim will probably get you more money, and will get it to you faster. If you want help figuring out what to do about your BP Claim, you might want to think about filling out our free case review box. We’ll get in touch with soon and help you weigh the options for your BP Claim.