It’s been a year and a half since Gulf Coast Claims Facility (GCCF) was set up by the White House and BP to pay our $20 billion in Gulf-Oil spill claims, yet its tight-fisted polices are pushing many claimants up against the wall.
The GCCF was touted by both the White House and BP as a benevolent and understanding third-party administrator headed by Ken Feinberg, an attorney who helped settle the claims of the September 11 terrorist victims, but in reality the GCCF has only paid out a paltry sum of $5.3 billion in Gulf-oil claims — so far.
I believe this is inexcusable!
Only Three Options At GCCF For Your BP Claims
At first, GCCF paid out a number of claims promptly, but within two months the claim spigot began to tighten and today only a trickle is coming out to claimants without legal representation.
If you happened to be one of the injured parties in the Gulf-oil spill, you really only have three options in getting justly compensated.
You can take a so-called “quick payment,” which amounts to a sum of $5,000 for individuals and $25,000 for businesses. Granted, this requires minimal paperwork, but the great disadvantage of this option is that you sign off all your rights for any additional claims. Option one can be summed up this way: “What you see is what you get”.
Is for those whose losses are greater than $5,000 or $25,000. In order to file a claim under this option, you must be able to provide substantial documentation. On the face of it, this seems reasonable, but recent tightening by GCCF and its ever-changing documentation requirement shows that this is not the case. Even fully documented victims get flat denials by the GCCF
For example, I recently read a column written by Larry Kendzior, a consultant and CPA who writes for the Florida KeysNet. In his piece, he described some of the documentation horror stories faced by some of his clients who filed BP Claims.
“Several of my clients have documented claims in excess of $100,000,” Kendzior wrote. “A few have been paid, but most have been denied, or the GCCF has offered to settle for nominal sum.”
Why are so many cases being flat-out turned down? The GCCF is constantly changing the rules making them a moving target!
According to GCCF administrator Feinberg, the Facility now will not pay loss of income claims documented by CPAs. To me this is astounding, considering the Internal Revenue Service (IRS) and other government agencies allow CPAs to represent their business clients in any audit.
Instead, the GCCF is asking businesses to provide written proof of customer cancellations and even proof that they would have been on the water, according to CPA Kendzior.
It’s pretty clear to me, after reading this column, that this rule is just another way for the GCCF to deny legitimate claims!
In his piece, Kendzior advises that no claimant should be lulled into thinking that they’ll get a check just because a local GCCF representative has prepared or reviewed their BP claim.
“Many claims handled this way have been denied after review by the central facility in Ohio,” wrote Kendzior.
Fight Back Against The GCCF Option 3
Unfortunately, this kind of game playing coupled with escalating documentation requirements has forced many claimants to pursue the third option, which is to secure legal representation.
What does Kendzior recommend in his column?
“My advice is to take no action unless you have first reviewed your situation with an attorney who is experienced in BP claims,” he writes.
I concur completely. Don’t let the GCCF play games with your future. It makes all the sense in the world to protect your interests by seeking legal counsel today!
For Help With Your BP Claim Or To File A New Claim, Complete The Form On The Right. You Will Be Contacted Shortly To Discuss Your Options.