Its a very sad story but unfortunately a story I hear from people all to often when they call me on the help line. My husband lost his good job due to the oil spill and the mortgage company/ bank foreclosed on our house, we are now living with relatives. The foreclosure rate climbed 23% in the 3rd quarter in Florida to 1 in every 56 house holds are in foreclosure (Stats from reality track). Now the question becomes if you loose you house and its directly related to you loosing your job, business or hours because of the BP oil spill, can you claim the lost of your house as a claim against BP/GCCF
How To File a Claim For Lost Equity Or Lost Rental Income against BP
So here is what we need to look at. First was this a rental house, the house you lived in or a commercial property you lost ?
Let try and do the 3 different scenario’s .
1) Rental house: If you lost your rental house your lost would be the lost of equity in the house and lost rental income for a period in the future.
2) House you lived in: If you lost the house you live in your only claim would be for the equity in the house. This is really important as how to calculate the equity in your home. The value of the house the day before the oil spill versus what you owed on your house then. That would be the equity that you would claim. It could be you need a CPA or Attorney to figure all this out for you but it would be a good claim. Also any moving expenses you have had could be a claim.Maybe even mental anguish for the stress of loosing your home.
3) Commercial property: Again your lost equity in the house before the oil spill and if its a business then rental income would be your claim.
If you follow The Oil Pollution act of 1990
Now GCCF is not following the law or the Oil Pollution act of 1990, they are making up their own rules and hoops to jump though to make you settle for the least amount of money possible. Its a fact that GCCF and Kenneth Feinberg is doing so well in saving BP money that they just gave him a raise of $400,000 per month. So he is saving BP so serious money by delaying and denying the people on the gulf coast their right full settlement according to the Oil Pollution Act . Sometimes you have to just say enough is enough and Tee it up for the lawyers to take over and let them deal with the BullSh.. of the GCCF. A person asked me today if his claim form directly with GCCF would have had a different outcome if he had selected the box that said ” I am represented by an Attorney” and I had to tell him that in my experience yes it would have a much different outcome. He had gotten the standard $5,000 go away now letter from GCCF on a claim potentially worth 10 to 40 times that number.
About Lost Of Equity Claim
Now here is the disclaimer for what I am writing here, if you go to GCCF with this claim of lost of rent or lost of equity there is a good chances they will not approve your claim as the GCCF and BP are making their own rules for what victims can claim under The Oil Pollution Act, they however do not make up the law.
In my opinion and I am not an attorney, people that had direct losses related to the BP oil spill can file a claim. Again if you income claim is directly related to the oil spill and you lost your house or rental property then you have a claim for what I have mentioned above.