Experienced Mississippi BP Oil Spill Attorney Discusses Unpaid Oil Spill Medical Claims

Eight years after the 2010 BP Deepwater Horizon Oil Spill devastated the Gulf region, over 14,000 medical claims are still unpaid. That’s over a third of the over 37,000 medical claims made in the aftermath of the spill, response, and recovery. While that statistic itself is troubling, it’s also alarming that many of the payouts have been lump sum payments ranging from $900 to $1300. While I understand the Gulf region’s poverty and know that folks need money, accepting these pocket-change settlements without the advice of legal counsel is ill-advised. Simply put, if you were affected by the spill, you deserve full compensation.

Were you affected by the BP Deepwater Horizon oil spill? Did you participate in the cleanup effort or come into contact with dispersants? Did you rent out your boat to those participating in the cleanup effort? Any of those activities may entitle you to a portion of settlement funds. If you think you are entitled to some of the BP Deepwater Horizon settlement, having experienced counsel help you attain your fair share is critical. Barrett Law has expertise in Gulf oil spill litigation and has the experience to help you through this process.  Contact us now at (800) 707-9577.

Spill Related Settlements Vary Widely

A look at medical payments to victims of the BP Deepwater Horizon Oil Spill is a tale of haves and have-nots. The Spill’s medical benefits claims administrator has received over 37,000 claims but has only approved about 23,000. These are claims on behalf of individuals who came into contact with the spilled oil and dispersants and who participated in the cleanup. Most of these claims are for acute symptoms such as shortness of breath, headaches, and nosebleeds.

Of the 23,000 approved claims, the vast majority of payouts have been tiny, under $1,500. In my experience, that is a paltry amount that fails to compensate people for the stress, pain, and ongoing medical problems that plague many people who were affected by the spill. More specifically, Gulf residents who came into contact with the spill or dispersants received $900 lump sum payment and those who worked on the cleanup received $1,300. A “lump sum” payment means that this is the total compensation that the person will receive and that it does not take into account actual expenses that the injured party experienced.

Here is an even more shocking statistic—of the 23,000 approved medical claims, only 40 large settlements have been approved for individuals who have suffered significant negative health consequences. Forty. That is a tiny percentage. However, it underscores the fact that if you have experienced health effects of the BP Deepwater Horizon Oil Spill or the cleanup, you need cannot trust either BP or the medical claim benefits administrator to help you attain the reimbursement you deserve.

What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?

If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you might be due compensation for your losses. Hiring a general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting BP Deepwater Horizon Oil Spill claims paid will represent your interests adequately.

Call the seasoned Mississippi BO Oil Spill Attorney at Barrett Law now if you were harmed as a result of the spill.

Barrett Law has the experience to take on oil spill defense attorneys that are focused on denying your compensation for the harm you experienced.  Contact us now at (800) 707-9577.

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Experienced Mississippi BP Oil Spill Attorney Explains What BP’s Latest “Charge” Means

I receive calls about the BP Deepwater Horizon oil spill whenever there is a new article about the spill in the news. Lately, Gulf residents here in Mississippi have called me to ask questions about BP taking a $1.7 billion dollar “charge” and what that means for them. Remember, in 2015 BP agreed to settle all claims with the U.S. federal and state governments in a $21 billion dollar settlement. Pursuant to that settlement, the company will pay out that amount over roughly twenty years. I have attached a useful article from Bloomberg News that describes the current state of the oil spill settlement well and encourage you to read it.

Were you affected by the BP Deepwater Horizon oil spill? Did you participate in the cleanup effort or come into contact with dispersants? Did you rent out your boat to those participating in the cleanup effort? Any of those activities may entitle you to a portion of settlement funds. If you think you are entitled to some of the BP Deepwater Horizon settlement, having experienced counsel help you attain your fair share is critical. Barrett Law has expertise in Gulf oil spill litigation and has the experience to help you through this process.  Contact us now at (800) 707-9577.

What Does Taking a “Charge” Mean?

Companies often record a huge debt in the wake of an investment that goes bad, a product that fails to launch, or a disaster. Clearly, in regards to BP the debt was due to its disastrous spill and the liability it incurred amounted to $21 billion dollars. That said, BP has some control over how they structure the debt so that they can remain in business. That means the debt is not added to their books all at once; rather, they pay that debt back strategically over time. Recent oils spill settlement payments have been substantial, with BP paying out $1.7 billion for the fourth quarter in 2017 and an anticipated payment of another $3 billion in 2018. The company’s spill-related payouts will rise to $3 billion in 2018 from an earlier estimate of $2 billion, while those for 2017 will remain at $5.5 billion.

BP is likely paying out more money now and in the near future because settlement claims are becoming more predictable in size, and the breadth of the total universe of claims is becoming clearer. This allows BP to have a better picture of how to distribute its debt over time. It also means that the settlements are going to get calcified, meaning it is increasingly unlikely to get a settlement much larger than the average without aggravating factors. If you still feel that you are owed money, the time is now to call an attorney to discuss what claims remain available to you.

What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?

If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you may be due compensation for your losses. Hiring an amateur or general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting BP Deepwater Horizon Oil Spill claims paid will represent your interests adequately.

Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were harmed as a result of the spill.

Barrett Law has the experience to take on defense attorneys that are focused on denying your compensation for the harm you experienced.  Contact us now at (800) 707-9577.

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Experienced Mississippi BP Oil Spill Attorney Discusses Financial Disbursement of Oil Funds

Are the BP Deepwater Horizon Oil Spill settlement funds having any positive effect? Clients frequently ask me how the Gulf Coast region has improved since the spill settlement dollars were released. Remember, in 2015, BP agreed to settle all claims with the U.S. federal and state governments in a $21 billion dollar settlement. Pursuant to that settlement, the company will pay out that amount over roughly twenty years. Recent payments have been substantial, with BP paying out $1.7 billion for the fourth quarter in 2017 and an anticipated payment of another $3 billion in 2018. The company’s spill-related payouts will rise to $3 billion in 2018 from an earlier estimate of $2 billion, while those for 2017 will remain at $5.5 billion.

An interesting April 10, 2018 article in Florida’s Citrus County Chronicle makes it clear that while many people and communities still struggle as a result of the spill, settlement funds have resulted in some positive outcomes. If you think you are entitled to some of the BP Deepwater Horizon settlement, having experienced counsel help you attain your fair share is critical. Barrett Law has the experience to help you through this process.  Contact us now at (800) 707-9577.

County Commissioners Sign Off on BP Oil Spill Money

By Michael Bates

County commissioners on Tuesday unanimously signed off on the RESTORE Act multi-year implementation plan and the paperwork will be sent to the appropriate state and federal agencies for approval.

The U.S. Department of Treasury had earlier approved the county’s multi-year plan to spend $4.3 million from the BP Deepwater Horizon oil spill settlement. The Treasury has already signed off on the county’s plan, but it had to go to a 45-day public-comment period before the board finalized it.

The RESTORE Act, which governs the oil spill settlement, sends funds to affected counties in two separate pots. The multi-year pot divides the payout over 15 years.

The county commission in June approved the plan, which set two projects side-by-side as top priority for now: The Riverwalk in Crystal River and purchase of property for a riverfront park in Old Homosassa.

The state has pledged $850,000 for the Homosassa park. For the county to receive RESTORE funds for that project, it would need to buy the property and own it. County officials say they do not want to own the property because it contains a fish house and other commercial businesses, and owning it would require the county to bid out the business.

The board last month voted unanimously to send a letter seeking an “ironclad” promise from the state that if the county turns over property to a private group after acquiring ownership it will not jeopardize the $850,000 grant the state has promised.
I linked to the entire article below and encourage you to read it. In a nutshell, it looks like funds related to the Gulf Oil Spill are having a positive effect on some areas in our region.

What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?

If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you may be due compensation for your losses. Hiring a general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting BP Deepwater Horizon Oil Spill claims paid will represent your interests adequately.

Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were harmed as a result of the Spill.

Barrett Law has the experience to take on defense attorneys that are focused on denying your compensation for the harm you experienced.  Contact us now at (800) 707-9577.

Source: http://www.chronicleonline.com/news/local/county-commissioners-sign-off-on-bp-oil-spill-money/article_b28b750e-3cf4-11e8-a263-a3f9057939c7.html

 

 

 

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Experienced Mississippi BP Oil Spill Attorney Provides Insight into Dispersant Effects on Cleanup Workers

Now approaching eight years since the BP Deepwater Horizon Oil Spill, clients still come to me with injuries related to their work cleaning up the Gulf Coast region. In 2015, BP agreed to settle all claims with the U.S. federal and state governments in a $21 billion settlement. Pursuant to that settlement, the company will pay out that amount over roughly twenty years. Recent payments have been substantial, with BP paying out $1.7 billion for the fourth quarter in 2017 and an anticipated payment of another $3 billion in 2018. The company’s spill-related payouts will rise to $3 billion in 2018 from an earlier estimate of $2 billion, while those for 2017 will remain at $5.5 billion.

An interesting March 6, 2018 article in the New Orleans Times-Picayune makes it clear that while the amount that has been spent thus far is tremendous, there are still many unknowns regarding who was injured, what injured them, and what is owed. Having experienced counsel help you attain your fair share of that settlement is critical if you were harmed. Barrett Law has the experience to help you through this process.  Contact us now at (800) 707-9577.

I have posted the most interesting passages from the March 6, 2018 Times-Picayune article below about health problems suffered by Coast Guard members who worked on the spill response:

The nearly 2,000 Coast Guard members who reported exposure to oil dispersants suffered a range of illnesses — lung irritation, skin rash, nausea, vomiting and diarrhea — at higher rates than members who were not exposed to the chemicals or were exposed to oil alone, according to research by the Uniformed Services University, a Maryland health sciences and medical school run by the federal government.

“With increased levels of exposure there was a higher prevalence of reporting cough and shortness of breath, and more reporting of wheeze than non-exposed people,” said Jennifer Rusiecki, a USU researcher involved in two recent studies.

The people exposed to the dispersants were four times more likely to report shortness of breath and three times more likely to report skin rashes than their non-exposed counterparts, researchers found. They were also two times more likely to say they suffered bouts of coughing and digestive problems, including diarrhea and vomiting, Rusiecki said.

Exposure to oil has its own toxic effects, but most Coast Guard members took precautions to avoid contact. Few understood to that same degree that dispersants also could be harmful.

BP used two types of dispersant, Corexit 9500 and Corexit 9527, both manufactured by Nalco Environmental Solutions, to break up the oil. Nearly 1 million gallons were dropped by air, and another 770,000 gallons were injected into the damaged wellhead about a mile under the water’s surface. It was the first time dispersants had been used on a large scale and in proximity to people. A USU study released in January noted that dispersants remain in common use after oil spills. “However, little is known about human health effects related to exposure,” the study says.

Crude oil exposure has been a major focus of health studies, but the effects of dispersants are only beginning to be understood, despite widespread reports of illness from coastal residents, fishermen and disaster responders exposed to dispersants during the Deepwater Horizon disaster.  The combination of oil and dispersants on human health is also poorly understood.

I have linked to the full article below and encourage you to read it. In a nutshell, it looks like the oil dispersants used during the Gulf Oil Spill may be the cause of many of my clients’ chronic health problems. These are problems that deserve compensation.

What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?

If you were harmed as a result of the 2010 BP Deepwater Horizon Oil Spill or its cleanup, you may be due compensation for your losses. Hiring a general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting oil spill claims paid will represent your interests adequately.

Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were harmed as a result of the Spill.

Barrett Law has the experience to take on defense attorneys that are focused on denying your compensation for the harm you experienced.  Contact us now at (800) 707-9577.

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Experienced Mississippi BP Oil Spill Attorney Provides Claims 2018 Update

Now approaching eight years since the BP Deepwater Horizon Oil Spill, clients still come to me with questions regarding the current state of affairs regarding Oil Spill payments to residents and workers of the Gulf Coast region. An excellent and informative January article in Insurance Journal, BP Still Paying Gulf Oil Spill Claims as Court Battles Wind Down provides an excellent and up-to-date overview. In short, the number of cases pending is going down, but the amount that BP projects paying in 2018 is rising.

In 2015, BP agreed to settle all claims with the U.S. federal and state governments in a $21 billion dollar settlement. Pursuant to that settlement, the company will pay out that amount over roughly twenty years. Recent payments have been substantial, with BP paying out $1.7 billion for the fourth quarter in 2017 and an anticipated payment of another $3 billion in 2018. The company’s spill-related payouts will rise to $3 billion in 2018 from an earlier estimate of $2 billion, while those for 2017 will remain at $5.5 billion.

Obviously, this is a tremendous amount of money aimed at helping the Gulf region and those harmed by the spill, having experienced counsel help you attain your fair share of that settlement is critical if you were harmed. Barrett Law has the experience to help you through this process.  Contact us now at (800) 707-9577.

From Insurance Journal:

BP Plc raised the amount it will pay this year for the Deepwater Horizon accident as thousands of lawsuits related to the biggest oil spill in U.S. history start to wind down. The 2010 explosion at a well in the Gulf of Mexico threatened BP’s existence after 11 people were killed and millions of barrels of oil spilled into the sea. While the latest liabilities will add to the more than $60 billion of penalties the company has already racked up, Chief Executive Officer Bob Dudley will see an end in sight to the largest court battles.

“With the claims facility’s work very nearly done, we now have better visibility into the remaining liability,” Chief Financial Officer Brian Gilvary said in the statement. “The charge we are taking as a result is fully manageable within our existing financial framework, especially now that we have the company back into balance at $50 per barrel.

The British company faced more than 390,000 claims from businesses such as seafood producers and tourism providers following the oil spill. More than 99 percent of the cases have been reviewed, according to court documents. Some are being paid out when determined to be valid. Still, the “last few remaining claims are likely to be the most complex and sizable,” according to Brendan Warn, an analyst at BMO Capital Markets Ltd.

What Should You Do If You Were Injured or Harmed By the 2010 BP Oil Spill?

If you were injured or harmed as a result of the 2010 BP Deepwater Horizon Oil Spill, you may be due compensation for your losses. Hiring a general practitioner to handle a claim related to the spill is a serious mistake, as only an attorney with extensive experience in getting oil spill claims for clients will represent your interests adequately.

Call Barrett Law now, an experienced Mississippi BP Oil Spill law firm, to represent you if you were injured or harmed as a result of the Spill.

 

Barrett Law has the experience to take on defense attorneys that are focussed on denying your compensation for the harm you experienced.  Contact us now at (800) 707-9577.

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Mississippi Personal Injury Lawyer Advises Persons Affected by the BP Oil Spill About the Gulf Region Outreach Program

The 2010 Deepwater Horizon explosion and oil spill was a devastating event for the Gulf Coast economy, culture, and environment.  When it occurred, it would have been extremely difficult to think that anything positive would result from the devastation and death.  However, the Gulf Region Health Outreach Program (GRHOP), is part of the BP Medical Benefits Class Action Settlement is one such positive development.

Gulf Region Health Outreach Program

The GRHOP is aimed at bettering the health care situation in the Gulf, especially the many important elements of health care that the Gulf region lacks. It is funded through the $105 million dollars of the settlement.  Its goal is to combine the health care efforts of the four Gulf states and four programs that share a common healthcare thread, quality health care in the Gulf region affected by the spill.

Who Can Benefit from the GRHOP?

The primary goal of the GRHOP is to provide medical services to the affected region’s residents that are uninsured and critically, medically underserved.  How would you know if you can benefit from the GRHOP? If you were an oil spill cleanup worker or are a resident of Class members certain coastal and wetlands areas of Louisiana, Mississippi, Alabama and the Florida Panhandle you are eligible to receive services under the GRHOP.

What Does the GRHOP Do?

In essence, the GRHOP provides funding for five years to combat persistent medical conditions related to the spill and to medical institutions serving the affected region for five years.  Class members are entitled to financial compensation for acute and chronic injuries related to oil exposure, healthcare consultation every three years for 21 years, and streamlined litigation procedures for class members who later display adverse physical conditions allegedly related to oil exposure.

Specifically, it provides funding to: The Louisiana Public Health Institute for the Primary Care Capacity Project to expand and improve access to quality health care; A quad-state consortium of Gulf state universities for the Mental and Behavioral Health Capacity Project designed to address behavioral and mental health needs of coastal citizens and provide mental health services; The University of South Alabama for the Community Health Worker Training Project for the training of community health workers who help Gulf residents understand and maneuver within the health care system; Tulane University School of Public Health for the Environmental Health Capacity and Literacy.

GRHOP’s Benefits to Class Members and the Gulf Coast

GRHOP funding has provided medical care and improved facilities in areas that desperately needed them. Physical and mental health care is now being provided to class members in areas that have never seen that level of care before.

Are you taking advantage of the benefits of the GRHOP that you may be entitled to as a class member? Consulting with an experienced oil spill attorney may clarify health care problems you are experiencing. Important deadlines, statutes of limitations, and filing requirements make consulting with an experienced BP oil spill attorney a vital step to protecting your health, your livelihood, and your rights if you have suffered as a result of the spill.

Contact Mississippi personal injury attorney Jonathan Barrett at Barrett Law immediately to protect your rights at (800)-707-9577.

Call attorney Barrett to set up a free initial consultation. The claims you may have related to the BP oil spill are not simple and you should not trust them to an attorney lacking the plaintiffs’ law and BP oil spill experience attorney Barrett possess. Call now to protect your livelihood and life.

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Mississippi BP Oil Spill Lawyer Advises About a Recent Court Decision Regarding Settlements

The 2010 Deepwater Horizon explosion and oil spill was a devastating event for the Gulf Coast economy, culture, and environment. While BP’s handling of the incident remains a source of negligence claims, new claims have also arisen that BP is distributing damages to claimants unfairly as well. A May 2017 decision by the U.S Court of Appeal for the Fifth Circuit found that BP was calculating compensation in violation of the Court Supervised Settlement Program for the Deepwater Horizon Economic and Property Damages Class Action Settlement (“the Settlement”), the agreement reached between those affected by the spill and BP.

At issue is this suit was how compensation for BP Spill victims—in legal terms “claimants”—would have their damages calculated under the Settlement. The Settlement allows for five Industry Specific Methodologies (ISMs) for determining the amount that each plaintiff received. Basically, because so many types of claims affecting disparate economies (e.g. construction, fishing, educations, agriculture, tourism, etc.) separate compensation formulas were required.  Claimants were supposed to be able to choose the methodology for compensation that best matched their industry and were supposed to be able to choose the applicable period of harm for which they would be compensated. The compensation period had to be composed of consecutive months between May and December 2010.

Policy 495 of the Settlement consists of five methodologies that the claims administrator can use to calculate claimant compensation.  Essentially, the policy divides claimants into two categories:  Those engaged in construction, education, agriculture and professional services are subject to certain ISMs, and those engaged in everything else are subject to an AVMM.

Again, under the Settlement, claimants were supposed to be able to choose a period for which they would be compensated; the period had to be composed of consecutive months between May and December 2010. Claimants whose industries were best suited to the Annual Variable Margin Methodology (AVMM) received a close to “dollar for dollar” accounting of their loss during the compensation period chosen. Unfortunately, those who found themselves under other ISM’s found that the Settlement’s claim administrator was averaging their losses over both the chosen and unchosen months of the claims period. This seemed to fly in the face of the clear intent to the Settlement.

The Fifth Circuit found that ISM’s are intended to provide claimants with the right to choose a period of compensation of consecutive months from May until December 2010, but the application of the methodologies where the claimants’ months were averaged really results in that choice being meaningless. The court held that the AVMM method, with its more exact accounting, actually complied with the spirit of the Settlement’s Policy 495. The panel also concluded that all claimants involved in construction, education, agriculture and professional services should be subject to the AVMM.

Have you been injured as a result of an improperly calculated or administered claim? Important deadlines, statutes of limitations, and filing requirements make consulting with an experienced plaintiffs’ attorney with BP oil spill experience a vital step to protecting yourself, your livelihood, and your rights if you have suffered as a result of the Deepwater Horizon spill or are a claimant under the Settlement.

Contact Mississippi BP Oil Spill Attorney Jonathan Barrett at Barrett Law immediately to protect your rights

Call Mississippi BP Oil spill Attorney Barrett to set up a free initial consultation. Your BP oil spill claims are not simple, and you should not trust them to an attorney lacking the plaintiffs’ law and BP oil spill experience attorney Barrett possess. Call us now at (800)-707-9577 to protect your livelihood and life.

 

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Deepwater Horizon Settlement Types

The Deepwater Horizon oil spill has had a lasting impact on people and wildlife throughout the Gulf. Among other things, the disaster reduced fish populations, led to lung disease in dolphins and might have caused permanent damage to the ecosystem. Fisheries and businesses that depend on tourism were hit hard by the spill, and the initial spill costs 11 workers their lives.

BP was ruled to have been “grossly negligent” in its actions leading up to the spill. The company was exposed as having had a practice of cutting corners to reduce its costs and increase its profits, exhibiting a careless attitude regarding the safety of their workers, the public, and the environment.

As a result of BP’s actions, the company was hit with the biggest fine in history. In addition to the fine, BP has to pay damages to many of the people impacted by the spill.

Medical settlements

Many individuals were physically injured by the BP oil spill. The people affected include those who lived in the area during 2010 and workers who assisted in cleaning up areas that suffered as a result of the spill. People who were physically harmed were eligible to collect compensation from the settlement that was agreed to following a class action suit against BP. In order to recover from the BP Medical Benefits Settlement, the person must have suffered from an acute medical problem, or be suffering from a chronic medical condition as a result of their exposure to the oil spilled or related chemicals.

Economic and Property Damage Settlements

In addition to physical harm, the BP oil spill caused financial and property damage to a great deal of people and businesses in the states that were impacted. The fishing industry, tourism, and real estate industries suffered great losses as a result of the oil spill. The settlement pays claims related to seafood businesses, economic losses, and damage to vessels, damages to coastal property and to property sales.

Appeals of Payouts

BP is bound by their settlement to make payouts to those individuals and businesses that qualify for compensation. However, the language in the settlement agreement allows for BP to appeal claims that are worth at least $25,000. BP has successfully overturned some rulings, meaning that the party that had been determined to qualify for a payout ended up recovering nothing after the appeal.

The settlement agreement also allows for individuals who are denied benefits, or who receive payouts lower than they believe are owed to them to file an appeal.

If you are faced with your settlement being appealed by BP, or if you feel that your claim was wrongfully denied or underpaid, you should speak with an attorney. Attorneys familiar with the BP settlement will know what is expected from you, and how to present the best argument on your behalf. If you suffered harm as a result of the Deepwater Horizon disaster, there is a lot at stake, and it is important to recover the compensation that you are entitled to.  Contact the seasoned Mississippi BP Oil Spill Attorney at Barrett Law, PLLC today at (800) 707-9577 to learn more about how the firm can help you.

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Appeals of BP Deepwater Horizon Claims

When the BP Deepwater Horizon oil rig exploded off the coast of the Gulf of Mexico on April 20th, 2010, 11 workers lost their lives, and the biggest oil spill in US history began. Hundreds of millions of gallons of oil leaked into the water, and soon began making its way to the shore. In addition to a devastating environmental impact, the spill had a drastic impact on the economy. In the Gulf states, the tourism industry and fisheries suffered major losses and real estate prices declined.

As a result of BP’s actions, the largest settlement paid out by any single entity in US history was agreed to. The settlement totaled $20.8 billion. Individuals and businesses impacted by the spill have the ability to file claims for compensation from the settlement fund. Compensation can be collected for employees who suffered a loss of personal income, businesses that lost profits or saw their earnings diminished, and individuals and businesses that suffered damage to their property as a result of the spill. Those who file for settlements can challenge a decision not to grant their settlement request, and can challenge a settlement award that is lower than they believe it should be. BP also has the right to appeal a decision.

BP Oil Spill Settlement Challenges

If a claimant believes that their claim was denied in error, or that the claim was lower than it should have been, it is possible to file for re-review or reconsideration. A claimant can file for re-review when there are additional documents that they believe should have been included in their claim, and that strengthen their position. Filing for reconsideration does not require that the claimant has additional supporting documentation for their claim. A claimant can request reconsideration is there was a calculation error, if relevant information about the claim was not taken into account, if the settlement standards were not followed, or if incorrect deductions were made from the payments.

BP also has the ability to appeal claim decisions in cases where the total compensation is at least $25,000, and they have done so in thousands of cases. While BP has to pay a fee for filing an appeal, the fees range from $400 to $5000 depending on the size of the award being appealed, and in many cases, BP has thought appealing was worth paying the fee. BP has appealed claims where they argue a claimant did not qualify for compensation because they should not have qualified for a category, such as the tourist designation, because the loss suffered was speculative, or because the amount awarded was higher than it should have been.

Facing the appeals process

If you have a BP oil spill settlement claim that was denied, or your settlement award is being challenged by BP, it is important to find an attorney who understands the appellate claims process and the Deepwater Horizon Settlement in detail. The process includes deadlines and documentation requirements, and your attorney will be able to work with you to ensure that you present your case in the most effective manner.  Contact the experienced Mississippi BP Oil Spill Attorney at Barrett Law, PLLC today at (800) 707-9577 to learn more about how we can help make a difference for you.

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Mississippi BP Oil Spill Attorneys Talk About Taxes on Settlement Money

After the Deepwater Horizon oil spill in 2010, the environment and the economy of the Gulf Coast were in ruins. Fortunately, a claims process got set up that enabled people whose lives were impacted by the oil spill to seek compensation for the damages that they experienced. People filed claims for economic losses sustained by their businesses, property damage from the oil spill, and illnesses and injuries that they suffered as the result of the oil spill. Eventually, BP reached a settlement with those who had brought claims, and the settlement monies got distributed to the people who had filed the claims.

Unfortunately, the story does not end there. Claimants did not merely receive funds that they could use to help themselves recover from the unique damages that each of them suffered as the result of the oil spill. Many claimants found that they were expected to send part of their settlement money to the IRS. Some settlement monies, whether from an oil spill settlement, or some other type of claim for damages, are indeed taxable. Not all settlement monies are taxable, in fact, most personal injury settlements and verdicts are exempt from state and federal taxes.

Some people who were pursuing claims realized in advance that their settlement monies would get taxed, so they planned and took actions that resulted in them paying the least amount of tax possible on their settlement funds, including taking action to ensure that their settlement money did not land them in a higher tax bracket. Unfortunately, many people did not know that they would get taxed or that planning ahead was the only way to avoid negative tax consequences associated with settlement proceeds.

If you have not yet settled a claim for damages, look into whether or not the proceeds of your settlement will get taxed. If you find that the settlement that you are pursuing is taxable, avoid getting placed in a higher tax bracket by choosing to get your funds paid to you over time instead of in one, large lump sum. Many people choose the lump sum option because they want all of their money and they want it now, but because of taxes, those who choose that option lose a lot of that money to taxes.

Spreading out the tax liability for your settlement money over time is a perfectly acceptable method of dealing with the taxes on your settlement money. Individuals who are pursuing a settlement who want to use that method can set up their deferred compensation plan with a settlement planner so that the settlement plan meets all applicable state and federal requirements. Just as pursuing settlement of a claim produces better results when you have an attorney represent you than if you do it on your own, receiving settlement funds through deferred compensation is not something that it is advisable to attempt without the aid of an experienced professional.

Barrett Law PLLC:  Supporting BP Oil Spill Plaintiffs

Economic and environmental health is beginning to return to the Gulf Coast region thanks in part to proceeds from the oil spill settlement. However, many plaintiffs are dismayed to learn that there could be tax consequences of their settlements. If you are in the process of settling your claim, make sure you get all the facts about taxation as it applies to your settlement. To learn more about the BP oil spill litigation, call the Mississippi BP Oil Spill Attorneys at Barrett Law PLLC at 1 (800) 707-9577, to arrange an initial consultation.

 

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