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Offers Finally Comming In From The BP Settlement

Now we are starting to see offers on the cases our law firms have in with the Deepwater Horizon Settlement. Its about time for this to happen as we have been waiting and waiting for it to come. I am happy to report that we have seen over 5 million dollars in offers over the last 3 days. With only 3 weeks to the opt out date its about time they get some offers out and that it would be to the attorneys first is not fair for the people doing it on their own but that is what it looks like.

BP Settlement

With over 55% denials and deficiency letters going out I am happy to report that until now we have only seen 1 denial in our group of cases submitted and very few deficiency letters. All deficiency letters we get we get them the documents they are asking for right away and move on. We have seen a wave of eligibility notices over the last 3 days.

With my last talk to the Deepwater Horizon Settlement people they are now processing over 2,000 claims per week and they are continuing hiring people and training them to make this number go up. This should be a good thing for the people that select to stay in the settlement.

Now just because we have started to get offers in for our client does not mean its right for everybody to stay in the settlement and below I will try and outline who should stay and who should opt out.

Opt Out Or Stay In ?

Assuming you will not get an offer on your claim before the 15 of October lets take a look at who should opt out and who should stay in. First look at where you live if you are a class member to begin with. Use this handy tool to make sure that you are class member. Settlement Zones

If you are a class member the next thing to look at is your documentation can you produce individual tax returns for 2009 and 2010 ? For a business can you produce tax returns for 2007,2008,2009,2010 and P/L for 2010? If so you have passed the documentation hurtle and it could be you should stay in the settlement.

Now next test would be your losses, where they in 2010 only ? If your looses are only in 2010 its a good compensation the settlement is offering 3.5 times your losses if you where in the tourist industry. Now if your losses spills over into 2011 and 2012 the settlement is not compensating you for those losses and Opting out and going with OPA might be better for you.

Where your losses more than $20,000 in 2010 then you might not want to gamble on BP making it right in the settlement as they have not been stand up people for the last 2 years compensating people why would that change now?

So as you can see there is many things to look at before knowing if Opting out or staying in is the right choice for you and with time running out and attorneys shutting down representation before the opt out date you are working with the last few days before its to late to get with an attorney. I suggest if you are in doubt to fill out a contact form and talk to an attorney about the Deepwater Horizon Settlement. Remember the attorney does not charge you anything before he gets you money. He charges 25% when you get money.

Who Is Getting Paid ?

Interesting enough no individuals are getting paid in the settlement right now, I am not sure why that is but maybe because they suspect that these individuals are not represented by attorneys and therefor they are not paying them yet as they have 1 year to pay them after November 1 2012. Claims getting paid right now is VOO boats, Real estate claims, business claims and Seafood claims that is the majority of offers we are seeing up to this point. We have seen no individual claims being paid but we have seen big business claims in the millions get offers on their cases. If you  are still waiting for an offer and you have a business claim or a seafood claim submit a form now and start talking to the attorneys before it get to late for the opt out and you are stuck in the settlement.

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BP Settlement Will Add 100 New Accountants

After a month of negative press for the settlement they finally are doing something about it. We learned Yesterday from court filings that BP has agreed to relax some documentation requirements and today we have learned from insiders that patrick-juneau has approved the hiring of 100 new accountants to get the claims process moving. My response to all this is better late than never but Damn why did it have to take 4 month to figure this out. They knew what was going on at the GCCF and they told the judge that they would be able to do a better job. Well to date we have not seen it.

If we get 100 new accounts to process claims will this be enough ? From the latest statistics we are seeing over 50% of all claims that are being processed are coming back as deficient because people are trying to do the submission process themself and not using a lawyer for it. I understand that you want to save the 25% to the lawyer, but you are also coming up against a hard deadline of November 1 2012. If you do not get an offer by then you will have to get an attorney.

Why not sign up with an attorney now so he can process and submit your claim correctly to the BP settlement and hopefully you will get an offer back before the opt out date. Submit a form on this page to talk to an attorney screen by me to handle your settlement.

Business With Losses in 2011 and 2012

Lots of seafood harvesters and processors and not seeing their true losses from the BP oil spill until 2011 and 2012 because of the time it takes for the shrimp, crab and oyster population to disappeared. These losses are not covered in the BP settlement and individual and business that are seeing continued losses in 2011 and 2012 needs to opt out of the settlement now and contact us via the form for an attorney to handle the OPA process and submission. The opt out and OPA presentment is what would go before a trial setting by the judge. This process has to be handled by an attorney and by opting out now the attorney will have time to work up your case and get it in before the January 19 2013 OPA deadline. In OPA your losses from the BP oil spill is covered for 3 years from the date of the fix to the oil spill. I think it was sometime in August 2010 before they got the oil spill stopped, but that is how long you have for them to compensate your loses.

No Individual Claims Paid To Date

The last stats from the Deepwater Horizon Settlements show no individuals have been paid yet on the BP settlement. Why this is I have no idea, but its very important that you get all your documents and your forms submitted correctly to have a chance at getting paid this year. Again I cannot stress enough how important an attorney is for you in this situation to get you stuff submitted correctly and fully. We have been working with these attorneys for 2 years now and they know what they are doing. They have submitted thousand of claims to the Deepwater settlement and they can now process your claim in a week if you provide them all documentation they request. Get the right documentation to them is the important part. They will guide you in what is needed but you still have to do your job and get them all that you have available to submit.

What you should do next

Get all your paperwork in order, find your 2009 and 2010 tax returns to start with. If you don’t have them what about w2′s for individuals. For business we need the P/L statements for 2009 and 2010 to get started. Then contact the attorneys on the form to the right and talk to them about other documents you might need for your case. Fill out the form on the right hand side and get started today. If for nothing else so you can opt out , if it does not start to produce some payments. Remember if you do nothing you will stay in the settlement and you wave your right to sue BP and accept what ever offer the settlement give you.

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BP Settlement A Bust

After all this time working with people getting their documentation for the BP settlement it looks like a bust, as the 2.5% of all claims submitted have been processed and have received an offer. 2.5% that is a correct number as of today. The BP Settlement looks more and more a bust even worse than the GCCF. In August the doors got opened for BP settlement offers to come out and only 1,500 offers came, that is totally unacceptable for an organisation that are supposed to have plenty of money from BP to administrate an undertaken like this. At the pace of 1,500 offers a month it will take the BP settlement 38 month or almost 2 years to get though the claims they have in today and new claims are coming in at a rate of about 20,000 new claims per month. Another fact is that the BP settlement only have until November 2012 where final approval have to be given for the settlement to move forward.

At this point I would tell people to sign up with an attorney and be ready for trial with BP. The BP Settlement is a bust and if you are not ready with an attorney on the opt out date you are going to be stuck in this thing. We have some great attorneys connected to this website that has already helped over 16,000 people get filed and processed. You need to be with an attorney that has this kind of experience with BP that can go to BP with thousand of case and get them settled before a possible trial.

What Do You Need To Have For The BP Settlement ?

Keep all W2′s and 1099′s with you for the years 2007 – 2011 so you can document your losses. If you are a fisherman or shrimper keep you trip tickets and your landing slips. Keep all tax returns that you have from those years. Keep any other paperwork that might prove your case. If there is some paperwork you don’t have the attorneys can help you with that. If you have had damage to your property with oil take pictures of all wet lands, beaches and other contamination. If you can take samples of the oil please wear protective gloves as the Corexit will be bad for your skin.

If you are a seafood harvester document with video or diary the state of your industry it will be good to have later for trial. Document as much as possible the better documentation and prof you can provide the stronger your case would be.

For now everybody are processed and submitted to the BP settlement if they are a class member but be ready to opt out if your attorney advice you to do so. If the BP settlement really is a bust like I suspect then everybody need to opt out before November 1 2012. Before then and why you need to contact an attorney today they need your documents and case worked up so the attorneys can see what would be best for you from the documentation you have.

How Do You Get Your BP Settlement ?

Fill out a form on the right and get with an attorney today. The attorneys will take you legitimate BP claims on a contingency basis and the attorney will only get paid after you have been paid. The attorneys will ask for no money up front and will take 25% of the money they get you from BP. They will do all the processing and maximizing of you claim to make sure that you get as much as you are entitled to. They will also protect your legal rights against BP to make sure they don’t get over on you. If you have to opt out on November 1 2012 they will advice you of that. Please fill out a form and talk to an attorney today ——–>

 

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Deepwater Horizon Settlements Starts To Pay Out

As of today over 1,400 offers have gone out from the Deepwater Horizon Settlements, and as of July 31 2012 check has been send out to those offers also. If you have submitted your claim to the Deepwater Horizon Settlements you are among 50,000 people that have submitted claims so far. The processing of claims are sure to get faster and faster as they get their systems up to speed.

I would guess that the 1,400 number we are seeing today will be more like 5,000 by the mid of September. Its so important for the class settlement to get a lot of claims processed before mid September because of the October 1 opt out.

October 1 Opt Out What What Should I Do ?

Now since I am not an attorney I cannot advice you what to do on October 1 2012, for that you should talk to your attorney but I can tell you what is going to happen after the Opt out date going forward. Now if you have the paperwork to prove your claim and you choose to stay in the BP settlement after October 1 2012, its because your paperwork is good you know and can prove your loss on paper and you are happy with the multiplier you are getting for your claim. So example if you are in the tourist industry and you are in Zone A you are looking at a 3.5 multiplier on your loss.

Now the settlement only gives you a multiplier on losses you can prove with W2, tax returns or P/L statements, what if you lost your house because you could not pay the mortgage because you lost your job because of the BP oil spill, again talk to your attorney about situations like this as I don’t think the settlement is written to cover losses like this.

Another example is mostly from the seafood industry, shrimp and crab season has been very tough on fishermen not in 2010 but in 2011 and 2012. The losses that are calculated with a big multiplier is from 2010 where the losses in this industry was not as big as what they are seeing now and in 2011. For these people the multiplier is correct between 5-8 times their losses but the year is wrong as the crab and shrimp did not disappear until 2011 season. Again when the harvesters are being hurt so are the processors and again they would have the same problem with the settlement.

On the other hand if you opt out of the settlement your attorney will have to be ready for OPA presentment by January 19 2013 a little less than 4 month after the opt out date. This is the last date to do OPA presentment or the 3 year statue will run on the case.

The OPA Presentment By An Attorney

The OPA presentment will happen in Houston, TX where BP’s head quarters are, this will be presented by an attorney to the agent of BP as they have claimed responsibility for the oil spill. This presentment has to be a full review of the losses that a client has had in respect to the BP oil spill. As the OPA (Oil Pollution act) was written very loose with plenty of room for interpretation losses like loss of house, boat, car, family will all be possible claims. Also anybody that does not fit the class action settlement that lost money because of the BP oil spill will be able to file with OPA. This would be anybody not in a settlement Zone or not in a job classification that is covered by the settlement. Here I would primary think of all the counties in Florida that are not Zones in the settlement and workers classified as Casino workers or Moratorium claims.

All the people that do not fit in the class should already have an attorney and have that attorney file their OPA claim now, as the BP OPA office has 90 days to bring back a reasonable settlement offer on your case or the attorney you are with can file suit on your case.

If you are still not with an attorney please fill out the form on the right and I will find you good representation in Houston TX no matter where you live in USA.

What Happens After OPA Presentment

Now the OPA presentment take 90 days where you have to get an offer back or the attorneys can file suit on your case and they will. So when you file suit the case with go back to the MDL in New Orleans and then it will go back to the state and county where you are from. So if you are in Pensacola Florida that is where you will get a trial date. The other option would be Houston TX as your attorney can choose venue on the case because the BP main office is in Houston Texas.

Now can BP really defend 10,000 cases at the same time ? No of course they cannot so they will have to settle every case out before trial or go to trial. For you and your attorney its important to get a trial date as soon as possible as this will put pressure on BP to get you a settlement offer you can accept. Getting a trial date in an MDL only base on other MDL’s that I have observed could be 12-18 month out.

Again talk to your attorney about stuff like this, and have him advice you on the legal side of things.