BP Tries to Slow Down Oil Spill Claims Payments

Ava Lawson | September 27th, 2013

BP Gulf Oil Spill Settlement FundingNearly four years after the BP Deepwater Horizon Disaster of 2010, thousands of claimants are still waiting for their economic and medical settlements from British Petroleum. As of mid-September, the claims program had amassed 207,310 claims, of which only 119,301 have been processed. And of those, 46,490 have been denied. In light of BP’s recent efforts to cut company budgets by $45 million and stall payments of pending claims, the court-appointed administrator of the BP oil spill settlement fund says BP’s actions and delays will have devastating effects, if the company continues to “defund” the settlement program.

Deepwater Horizon claims stalled

Attorneys for administrator Patrick Juneau said in a court filing, “Indeed, the other ‘party’ to the (settlement program) is a class that includes well over 150,000 claimants who presently are barred from pursuing their claims against BP in return for a right to participate in the program.”

BP counters that the claims program has been rife with fraud, and is hoping the U.S. appeals court will cut back awards by the settlement’s administrator for what it deems to be unreasonable demands.

Last week, BP renewed its request that District Judge Carl Barbier halt all payments from its multibillion-dollar Gulf oil spill settlement. Though the federal judge has rejected all prior requests for suspensions, the remaining 150,000+ claimants are now faced with added uncertainty about their financial future. Should they continue waiting for their settlement monies or seek an alternative solution, such as BP oil spill settlement loans, to help cover their daily living expenses?

BP Gulf oil spill settlement funding

The settlement program was established to compensate victims who suffered business and property losses following the aftermath of the BP oil spill, when nearly 5 billion barrels of crude oil leaked into Gulf waters.

Those in the fishing, shrimping and oyster industries were hit hardest, followed by tourism-related businesses, all of whom relied on a thriving, healthy ecosystem. Now, with anticipated delays and possible suspension on future oil spill claims, thousands are left in limbo, wondering when – if ever – they’ll see a penny of reparation. Faced with potential bankruptcy, or unable to make company payrolls, some business owners may turn to BP Gulf oil spill settlement funding to help them bridge the gap while their claims resolve.

Settlement loans relieve the monetary pressures placed on claimants who are saddled with mounting bills. This type of legal funding carries no risks or invasive credit checks, as the cash advance is only repaid once the claimant has recovered their settlement funds.

Apply for settlement funding today

LawStreet Capital is proud to offer the nation’s most competitive rates for BP oil spill settlement loans, providing a hassle and risk-free solution to claimants in need of cash today. Our free application is confidential and there is no obligation once approved. Employment status, collateral and credit history are of no importance, as we base our decision on the strength of your pending claim. To learn more, please call one of our customer representatives at 1.866.FUND.662.

Once approved, you can expect your cash advance in as little as 24 hours, either via electronic bank transfer or overnight express mail. Get the BP oil settlement money you need and deserve now!