Denied BP Claims Does Not Mean Uncollectible Claims
- By Jason Bacot
- Published 10/27/2011
- Legal
- Unrated
In all too many instances, the individuals or businesses that have had denied BP claims, simply give up, and think that it's the end of the story. That simply is not the case; it is still possible to collect on your BP claims, even if they have been rejected repeatedly.
There are many reasons that the Gulf Coast Claims Facility (GCCF), which represents BP in this matter, will deny a justifiable claim. The most prominent one, is incomplete or incorrectly filled out paperwork. Another possible cause that they will use to reject a claim is you failing to tell your story in a persuasive enough fashion.
The most difficult type of BP claim to collect on is an indirect claim. What this means, is that your business did not directly suffer like a fisherman's did, but still occurred financial losses because of the oil spill.
An example of this type of business would be a vendor that serviced other firms in the area, which either stopped buying from them completely, or reduced their purchasing considerably. Let's say your company repaired boat motors for the fisherman.
Since the fishermen were no longer fishing, their motors required far less maintenance. It is very easy to determine, that this type of repair shop did not suffer direct financial damage due to BP's oil well exploding. However, their business income certainly was decreased because of it.
Would this type of business be
able to collect on their BP claim? Of course they would, but they need to provide very convincing documentation to the Gulf Coast Claims Facility (GCCF) in order for them to settle with you. Not only would they have to show all of their past financial and banking records, you would need to produce projections regarding your businesses future financial performance.
That is exactly where the problem lies; most small boat repair shops do not have any accounting records, only tax returns. Next, obviously the people that own these types of establishments are expert mechanics, but they are not highly trained accountants or lawyers.
So, when it comes to presenting a credible story to the Gulf Coast Claims Facility (GCCF), these types of businesses are in way over their heads. After all, BP has some of the most experienced and well paid lawyers working for them to ensure that payouts are as little as possible on the claims submitted to them.
If you feel like your business was financially damaged by the oil spill, and you cannot, or will not, supply the GCCF with the documents that they require, you are not going to get what is rightfully and legally yours.
Is that fair, probably not, but then again, it is how big business operates. If you have given up hope of ever collecting on your denied BP claim, you really should not, because it is still possible to collect on it. What you need to do, is to get a lawyer that specializes in forcing BP to settle for the correct amount when a claim is justifiable and documented.
There are many reasons that the Gulf Coast Claims Facility (GCCF), which represents BP in this matter, will deny a justifiable claim. The most prominent one, is incomplete or incorrectly filled out paperwork. Another possible cause that they will use to reject a claim is you failing to tell your story in a persuasive enough fashion.
The most difficult type of BP claim to collect on is an indirect claim. What this means, is that your business did not directly suffer like a fisherman's did, but still occurred financial losses because of the oil spill.
An example of this type of business would be a vendor that serviced other firms in the area, which either stopped buying from them completely, or reduced their purchasing considerably. Let's say your company repaired boat motors for the fisherman.
Since the fishermen were no longer fishing, their motors required far less maintenance. It is very easy to determine, that this type of repair shop did not suffer direct financial damage due to BP's oil well exploding. However, their business income certainly was decreased because of it.
Would this type of business be
That is exactly where the problem lies; most small boat repair shops do not have any accounting records, only tax returns. Next, obviously the people that own these types of establishments are expert mechanics, but they are not highly trained accountants or lawyers.
So, when it comes to presenting a credible story to the Gulf Coast Claims Facility (GCCF), these types of businesses are in way over their heads. After all, BP has some of the most experienced and well paid lawyers working for them to ensure that payouts are as little as possible on the claims submitted to them.
If you feel like your business was financially damaged by the oil spill, and you cannot, or will not, supply the GCCF with the documents that they require, you are not going to get what is rightfully and legally yours.
Is that fair, probably not, but then again, it is how big business operates. If you have given up hope of ever collecting on your denied BP claim, you really should not, because it is still possible to collect on it. What you need to do, is to get a lawyer that specializes in forcing BP to settle for the correct amount when a claim is justifiable and documented.
Jason Bacot
It's definitely time to get more information on a Gulf Coast Claims Facility, especially if you've been wrongfully denied by a GCCF. If you have, I suggest you get some legal help and check us out online at BPClaims.com immediately.
View all articles by Jason Bacot