There are now three options for claims against BP

People with claims against BP now have three options for payment.

Ken Feinberg, the Administrator of the Gulf Coast Claims Facility, said that the Facility will begin providing additional compensation to the victims of the BP oil spill under one of three compensation alternatives.
People can seek a lump-sum final payment for all documented past, present and future damage, but if they take that route they will be required to sign a full release giving up the right to sue BP and all other alleged defendant companies arising out of the explosion and spill.

Claimants can also seek quarterly interim payments for documented past damage.

Interim payments will be available once every quarter until August 2013.

No release will be required under that option.

There is also a one-time “quick pay” amount of $5,000 for an eligible individual or $25,000 for an eligible business.

This “quick pay” alternative is only available to those eligible claimants who have already received an emergency payment from the Facility.

This option will also require a full release giving up the right to sue BP.

Feinberg also announced that a program for free legal assistance will soon be made available to any claimant seeking help.
The necessary claim forms for the three payment options will be available on Friday at the 35 Claims Offices across the Gulf Coast including the one in Apalachicola.
They will also be available online at www.gulfcoastclaimsfacility.com.
Over the past four months, the Gulf Coast Claims Facility has processed over 463,000 claims and paid about $2.5 billion to over 166,000 individuals and businesses impacted by the BP oil spill.


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