Today is Tuesday May 29 2012 and we got one week left before the gold rush starts. Next Monday is June 4 2012 and the BP settlement will begin its going to be a rush for all the attorneys to get their cases in first with the BP claims settlement. Lot of people have speculated that the steering committee attorneys would have first dip on getting their BP claims forms in but with the new more complicated system it is really all about manpower, who have the most processors to fill out forms online for their clients.
When the forms comes online next Monday any attorney with respect for them self will have all their employees at a computer screen filling out forms. Something only an attorney can do as they will get an attorney login/password to handle all their clients.
If you are still with an “Consultant” its time to change horses since they will not have access to submit your claim for you.
BP Claims Settlement Clarifications
Lots of clarifications coming out on how the seafood settlement in some cases will be delayed as it has a cap on there they have to make sure there is enough money to go around. Also BP has their secret opt out number (10%) that they can pull if they want to so the settlement stops. They will probably not use this trump card as the people they are paying would go to the courts and file lawsuits if they don’t get a release from them. So the money will most likely keep flowing for a bit. Remember its an election year and the president has to try and look good to his voters. This fact will most likely help getting money out faster up until November 2012.
Another interesting fact is how complicated the steering committee made these claims forms some of them over 20 pages, very hard for anybody to figure out and fill out with any consistency. Why do you think that is ? Well her is why. They are trying to do two things.
1) Opt Out BP Claims Settlement, that means if you don’t opt out you are considered to be in the settlement, but if you never file a form then you will never get any money. If the time goes to October 1 2012 and you have not filed out a form on opt out you could lose your rights to go after BP.
Now this is very interesting and probably something that will not hold up on appeal. So in most cases the statue of limitation or the time in witch to file a claim is 3 years (most states) but by giving class members only to October 1 2012 they are cutting that 3 years down to 2 years and a few month’s. I think that is going to be a real problem for them on appeal. For now better safe than sorry get your attorney to handle all these deadline for you and make sure that you stay in touch with your attorney about your cases. You will get a number back from the BP claims settlement with what you should be paid. Let the attorney advice you on taking this number or rejecting it before October 1 2012.
2) Get the BP claims to the attorneys for a full work up. For the BP Claims Settlement its easier to process the attorney claims that has all the documents and forms filled out correctly than having people that don’t know this business fill it out by them self. If you are a fisherman how go do you think your attorney would do your job ? Right so don’t try and do the attorney job it will only mess up your claim and get things screw up for you. Concentrate on going out everyday make money in the job you know how to do, let the attorneys do the job they know how to do.
BP Claims Settlement Opt Out or Opt In
This is something you have to find out before October 1 2012. If you don’t know what to do the safe thing to do is to Opt out. Then you have not given away your rights. If you want to see what the BP claims settlement will offer you have your attorney submit your claim for a number they will pay you. If you get a number back before October 1 2012 look at it and take it or reject it. If they slow things down and don’t get you a number before then it would be safer to just opt out.
Here is how you opt out from the BP claims settlement .
To validly exclude yourself from the Economic Class, you must submit a written request stating “I wish to be excluded from the Economic and Property Damages Class.” The request must include your printed name, address and phone number and must be postmarked no later than October 1, 2012. The written request must be signed by the Natural Person or Entity seeking to exclude himself, herself or itself from the Economic Class, even if they are represented by an attorney. Electronic signatures will not be accepted. The request should be mailed to:
Deepwater Horizon Court-Supervised Settlement Program
P.O. Box 222
Hammond, LA 70404-0222
It would be smart to have your attorney weigh in on this and you together can figure out what the best thing would be to do in your unique case.
Help With Your BP Claims Settlement
As always we are ready to take your BP claims settlement to the attorneys just fill out a form on this page and you will hear from an attorney. If you feel like you can do it yourself I will warn you that the pit falls in this thing are many and you might end up with nothing at the end of the day. Just a word of advice.