Breaking News On BP Settlement Multipliers

Wow do I have some good news for everybody on a Friday night. Now remember this is still not an approved BP settlement or a finalized BP settlement but if I understand it correctly the multiplier that people are going to get in the BP settlement people are going to be made whole.

BP Settlement Multipliers

If you want to see all the details read this post on Calculation Of My BP settlement

For the people that don’t want to read all the details the multiplier for business and individual claims in the BP settlement will in some case be almost double the amount that the GCCF would have paid out on the same claim. On top of that most claims groups would not have to document that the BP oil spill was the cause of their losses. They just have to document the loss.

On top of that you can take the worst 3 month of 2010 and compare it to the same month of 2009 or use a combined number from 2009 and 2008 or 2009, 2008 and 2007

This is going to amount to a very nice situation for most people with claims going to the BP settlement.

Examples of Payouts In The BP Settlement.

A waiter in Pensacola beach that lost $20,000 in 2010 and was working on Pensacola Beach lets say Crabs down their or Hooters would get an offer for $70,000 from the BP settlement. They would not have to document that the BP oil spill caused their loss and they could give 3 month of W2’s from 2010 to their attorney and compare it to W2’s from 2009 same month compared.

The same would apply to Commercial fishermen, Charter Fishermen, Water sport, rentals, water sport.

If you had a business that was a tour operator inland for tourist and had documented loss of $100,000 in 2010, you would not have to document that the loss was caused by the BP oil spill. You would get an offer for $300,000

Same would apply to all tourist and seafood industry inland (restaurant with gulf seafood on the menu I would think)

The worst a business would make out would be a construction company or painters let me take their example. Lets say a painter had losses of $50,000 in 2010 compared to other years. The painting business would get an offer for $100,000. Just a little more than the GCCF would have offered.

The only time this would not apply would be if the business was located 0 – 1/2 mile from the beach or 1 mile from wet land with oil on it.

Get your claim into an attorney now

So after knowing the payout its important you get your claim into an attorney now so they can work up your claim and get it ready for the BP settlement that will start in about 60 days from today. Fill out a form on the right hand side and then fill out the attorney request for representation form and you are on your way.