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.