The New BP Oil Spill Settlement. Did You Get Your Settlement Che (Daphne, AL)

The New BP Oil Spill Settlement. Did You Get Your Settlement Che

The New BP Oil Spill Settlement. Did You Get Your Settlement Check Yet The New BP Deepwater Horizon Settlement All businesses not just those near the coast are included in the new settlement. British Petroleum (BP) has set aside 7.8 billion dollars to compensate businesses for economic harm and property damage caused by the oil spill. There is no cap on the amount of money that BP will provide for approved claims and the final number could exceed the 7.8 billion that has been set aside. Millions of businesses are unaware that they have a valid claim. As part of the new settlement BP has agreed to pay for direct AND indirect economic harm. Direct impact includes any business owner whose property or business suffered economic harm that was caused by the oil spill. Indirect impact includes any business (auto repair clothing convenience store etc. ) that experienced a decline or a fluctuation in monthly revenue that resulted in decreased variable profit between May and December 2010 because of decreased traffic related to the oil spill (don t worry about calculating whether your business experienced variable profit we do that for you as part of our service). If you own a business in one of the Economic Loss Zones it is likely that you are eligible to participate in the new BP settlement. The settlement covers all parishes in Louisiana and all counties in Alabama and Mississippi and select Gulf Coast counties in Florida and Texas. Our executive team has helped more than 180 000 people recover over 240 million in class action settlements over the past 15 years. The ClaimsComp Team will Complete and submit all claims forms. Perform all required financial tests. Assess direct and indirect consequences. Choose benchmark periods to optimize your claim. Manage your claim from start to finish. It s quick easy and free to find out if you are eligible to file a claim. Contact me Armen Hamalian your ClaimsComp Claims Manager at 678-822-9162 ClaimsComp Inc. 490 Sun Valley Road Suite 103 Roswell GA 30076 (678) 822- 9162 bp.claimscomp.com ernestglennon Why is there a settlement BP agreed to compensate businesses and individuals in a five state area due to the negative economic impact of the Deepwater oil spill in 2010. This settlement will resolve thousands of lawsuits by businesses and individuals that were directly and indirectly affected by the oil spill. The 7.8 billion settlement will avoid the costs of a lengthy trial and costly litigation and the risks associated with a prolonged legal battle with the industries and organizations throughout the Gulf Coast. Do I qualify even if I don t live work or operate a business near the coast The 7.8 billion settlement makes all businesses - not just for those on or near the coast or affiliated with tourism seafood fishing or lodging - eligible for compensation. Nonprofit organizations and individuals are also eligible for compensation. What geographic areas are included in the settlement All counties in Alabama and Mississippi all parishes in Louisiana and Florida Counties Bay Hernando Monroe Calhoun Hillsborough Okaloosa Charlotte Holmes Pasco Citrus Jackson Pinellas Collier Jefferson Santa Rosa Dixie Lee Sarasota Escambia Leon Taylor Franklin Levy Wakulla Gadsden Liberty Walton Gulf Manatee Washington Texas Counties Chambers Jefferson Galveston Orange Do I have to prove that the oil spill caused decline in my business Claimants are no longer required to prove that the oil spill directly impacted their business. Claimants must provide financial statements and tax returns to show the loss but the settlement is generous and provides all businesses a chance for recovery. Should I attempt to obtain a settlement on my own Although it is possible to file on your own the process is complex and daunting. There are over 1 000 pages in the settle document. An experienced claims company that specializes in class action settlements can help your process your claim quickly and hassle- free. What types of businesses qualify Almost all types of businesses qualify Auto repair shops clothing stores catering companies ice cream and coffee shops restaurant suppliers vendors car washes rescue missions crisis centers churches mosques taxi cab companies photo studios and many more. All businesses qualify unless specifically excluded from the settlement. Is there a deadline for filing a claim Claims can be filed until April 22 2014. The process can take several months. You ll want to file as soon as possible. Should you consult with someone who is experienced with class action programs You are not required to use a third party to file a claim. Having someone familiar with the claims process and that can accurately prepare the claim and calculation can increase the likelihood of a timely accepted claim versus a rejected claim. How long will it take to file a claim and receive payment After you submit a claim it must be verified and approved by the settlement group. Claims are generally being paid within 90 to 180 days. Is there a limit to the amount of my claim There is no individual or group limitation. You are entitled to the full economic recovery from the settlement. How can I fast track my claim You can start your claim in less than one minute at bp.claimscomp.com ernestglennon Ernest Glennon Regional Claims Manager ClaimsComp Inc. D 770-362-1279 490 Sun Valley Dr. Suite 103 Roswell GA 30076 Information Links bp.claimscomp.com ernestglennon www.claimscomp.com