Attorney General Warns Floridians on accepting Final or Quick Payments from BP
On Friday, Attorney General Bill McCollum issued a consumer advisory warning Floridians about final or quick payments options from BP.
Gulf Coast Claims (GCCF) Administrator Kenneth Feinberg announced the GCCF’s next phase which will include three payment options: interim payments, final payments and quick final payments. Claimants accepting of either of the final payment options would be required to sign an extensive release that would bar them from future recovery for damages caused by the Deepwater Horizon Oil Spill.
“I urge all Floridians to proceed with caution when evaluating whether to accept an offer of final payment from BP,” said Attorney General McCollum.
“I encourage consumers to consult with their counsel before signing any release.”
Claimants considering making a quick final payment claim should also evaluate whether their total possible damages exceed the set amount offered for such claims – $5,000 for individuals or $25,000 for businesses. Due to the speculative nature of estimating a final claims value and the breadth of the GCCF release, claimants are advised against accepting any form of final payment or signing a release without first thoroughly understanding the GCCF’s terms. Claimants may continue to file interim claims to recover their currently known damages without having to sign any release.
Information on the Deepwater Horizon disaster can be found online at:
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