If you follow this blog you saw my earlier post today about how GCCF has locked down the Final Claims Application process, well just a few hours after the post, GCCF is responding to the criticism of locking down the application process and I would like to share that response with readers of this blog.
GCCF Response to Final Claims Website Malfunction
” The GCCF is currently developing a formula for calculations of future damages to be used in assessing final payment claims.In order to develop fair and appropriate calculations of future damages, the GCCF is consulting with expert economists and scientist.
In the next few weeks, the GCCF will make a final determination regarding its methodology for the calculation of future damages. During this period of consultation and evaluation, the GCCF will not be issuing any final payment offers.
AFter the determination of a final methodology for the calculation of future damages, the GCCF will begin issuing final payment offers. We expect these final payment offers to begin in mid-February.
Final payment claims will be reviewed, on a rolling basis, in the order in which the final payment claims were received by the Facility. If the GCCF determines that your claims requires additional information or documentation you will be contacted and notified of the specific missing documentation that you must provide.
You can track the progress of your claim online by checking the claim status portion of the GCCF website at www.GulfCoastCLaimsFacility.com or by calling us at our Toll-free number below. ”
What does the GCCF response mean
So in a nutshell they are saying to stay patient if you are filing for a final claim, they are still trying to figure out what the factor will be for you final claims. The factor would be how many times your monthly loss should be multiplied by to cover you in the future. Again I have advocated 3-5 years of future payments for you lost today.The reason I am saying 3-5 years is because all claims or many claims are different. A business claim to a loss of income claim would be treated with a different factor. If the GCCF is not going to give you this kind of final claims payment, then you need to join our dream team that can get you these kind of numbers on your final claims payment.
Again I am glad that the GCCF gives us a response to the criticism that fast they have to get props for that, now if they can just treat everybody with respect and give everybody a fair shake then I will say nothing but great things about the GCCF but they have to prove it first. To date I have not been to impressed.
Again thank to a loyal reader for bringing this to my attention and keeping me and all of you guys in the loop of what is really going on.