If you are looking to file a business BP oil spill claim in Florida, there are several things that you must understand. First, there are certain requirements that you must qualify under in order to be considered eligible for BP’s Economic and Property Damages Settlement. Even if you qualify, the process of filing a claim can be confusing and complex, and many claims are denied outright by BP. In order to avoid the pitfalls and problems associated with BP oil spill claims, our office has provided answers to a couple of questions commonly asked questions on this topic.
How much should I expect to recover through the Settlement?
After it was definitively proven that BP was responsible for the damages caused by the disaster, BP established a trust with $20 billion to pay on qualified claims. The total Settlement amount is not limited by any funds which remain in the trust, and there is no real dollar limit on the total amount of the settlement. BP had projected that total costs would be approximately $7.8 billion.
The amount you may receive in a BP settlement claim will ultimately depend on the number of qualified claims made in your program.
Is there a deadline for the damages Settlement?
The deadline to submit most claims is April 22, 2014, or six months after the Settlement becomes effective. When valid claims are approved they will be paid immediately, meaning it is highly recommended that anyone filing fill out all claim forms properly and completely. It is a good idea to seek the help of a legal professional from the Law Office of Frank Miranda before you start filling out your claims form, as it is easy to make some common mistakes.