First off the new GCCF “Quick Pay” option was just add to the GCCF final claim options for you to consider when accepting a final claim for the BP oil spill. The way the “Quick Pay” option will work is if you are happy with $5,000 as an individual or $25,000 as a business then you can sign a release with GCCF and get the money quick, in less than 14 days Mr. Feinberg promises.
Praying on peoples need for money fast
The first thing that comes to mind in the “marketing” they are using to convince people that they should just sign on the line and take the $5,000, “Quick Pay” opposed to what if you don’t do this and do a normal final claim “slow pay”.
I can believe the established media is not attacking this marketing scheme that GCCF has rolled out right before Christmas when people need money the most. Why Mr. Feinberg and the Gulf Coast Claim Facility are trying to say that they have people best interest at heart when they come with an offer like this is hard to understand.
Lets look at the math for a second and see who can benefit from this ‘Quick Pay” scheme from GCCF
The people I have personally talked to have been offered no less than 3 years of payments for their final claim, if you did the interim payments you could do this for 3 years so lets work with this number as a factor 36 (month) to determine the amount you should have received per month for $5,000 to be the right final claims payment. By taking the $5,000 and dividing it with 36 month we find the number $138 per month. So think about this for a second, with all that we know about the emergency claim payments, how many people do you think got $138 or less per month on their emergency claim ? I would take a wild guess and say it is probably very few.
So GCCF has 166,000 emergency claims out there and now they are offering them $5,000 for a personal claim and $25,000 for a business claim, it just sounds stupid and a pray on the people really hurt by this that desperate need the money now.
Black Mail of the people that really need money now
I can’t believe our very democratic government is allowing this to happen, take a little right now or wait for your final claim that is probably going to be 10 times more than this but we will drag it out to make you take the $5,000 because we know you really need the money. It almost sounds like black mail to me, and again that the media is not all over this BS, I cannot understand. But I guess for them its more important that some 2nd rated movie star goes to jail or what ever it is the pop culture like at the moment.
So what should you do, I know its Christmas and I have personally gotten lots of emails from people waiting for their claims payment, I of course cannot do anything about that other than write this blog and hope that people listen to what I have to say. But people out there really need money and the longer GCCF drags out the final claims payment the more people will take the $5,000 as a final payment. This is of course what they are counting on but in my mind its a dirty way to take care of people that has been hurt by the BP oil spill and I think BP and GCCF will loose the people on this one and the lawyers will have a field day with the new final claims customers coming to them over this.
Again in my eye’s its black mail and if at all possible you should not take the “Quick Pay” option. I have gotten information from people that has gotten the emergency claims and they tell me that every month a new letter from GCCF comes in the mail box where they offer them a higher final payment each time to just sign off on the final payment.
If you can wait, and you can some how make it though these hard days I personally believe there will be much bigger final claims payments in the spring and summer of 2011. If you can wait until some of the lawsuits has been settled the final claims payments will be huge.
The problem GCCF has at this point is, the people they have accepted for Emergency Claim payment, these 166,000 people of this writing has all gotten money from GCCF and GCCF and BP has admitted fault in these cases so its no longer a question if you will get a final claims payment, all that has gotten an emergency claims payment will be entitled to a final claims payment.
The question is now if you will take their first offer of $5,000 or wait around for your real final claims settlement that should be more or less 36 times you monthly emergency payments. With this in mind don’t fall for GCCF shameless offer right before Christmas of giving you $5,000 when you are entitled to much more just do your own calculation and you will know if this is a good or a bad deal for you.