BP Oil Spill Claims Final Update

Those of you who are waiting on a claim from BP may not have to wait much longer. The latest news from BP claims czar comes as a shocker to those involved. Ken Feinburg claims theres a faster way of getting paid. Those of you who have received a check already for emergency payment, will be the ones who will qualify. If you have been paid by BP then this option is for you. Individuals will receive $5,000 and Businesses will receive $25,000. This is and will be your final check and you give up your right to sue. That is right. By accepting this check from BP you are done. You will receive final payment.

Feinburg states this is a a faster option and people can get back to there lives. This option will help limit the number of lawsuits filed. There are other companies involved in this disaster as well. They are Transocean [RIG], HAL Halliburton, and [APC] Anadarko.

The faster payment option gives everybody who have already filed and been paid, a chance to get paid faster. This will help with the slow claims process. More than 166,000 people have filed claims , this includes Individuals and Businesses There have been $2.4 billion approved so far. All claims have been under $25,000.

BP has not announced yet which claims will be paid and which will be denied. Some employees of businesses have been paid, while the businesses have been denied.

If you would still like to sue BP they claim they will get you a lawyer. They know there will still be other lawsuits legitimate and some not to be filed. Some claimants are angry about this decision, while others are accepting the final payments.

You can also read my other related articles about BP.

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