GCCF Claims

As many of you might have figured out by now, the Gulf Coast Claim Facility is not exactly the easiest organization to work with. They seem to be more interested in delaying people's claims, than they are in actually reviewing them. Why? Well, for one, the GCCF is indirectly controlled by and not independent of BP.

This are not just our opinion. It is also the opinion of the judge assigned to oversee all the claims against BP, U.S. District Court Judge Carl Barbier. He has said "BP has created a hybrid entity, rather than one that is fully independent of BP" and "the GCCF and Mr. Feinberg are not completely 'neutral' or independent from BP."

So then the question might be better asked, why would the GCCF, as representatives for BP, want to stall and delay the process? A few reasons come to mind.

1. Feinberg is paid by BP to do what they want
   Feinberg and Rozen, the law firm that manages the GCCF, is paid directly by BP. The firm, which at first, was paid $850,000 a month to dedicate a whole group of eight people to BP claims related work, is now paid $1.2 million a month. It seems BP thinks that Feinberg and Rozen are doing a great job.
2. BP and their quarterly earnings report
   While we cannot see their internal documents, it would not surprise us if the accountants at BP do not want to see billions of dollars in payouts in a short period of time. BP is afraid of this because a lot of payments in one quarter will negatively impact quarterly earnings reports. A bad earnings report will hurt BP's stock price and their shareholders. It is likely for this reason that the GCCF seems to be constantly paying out about $1.25 billion in claims every quarter. It seems that it does not matter if they have $10 billion or $2 billion in pending claims. BP seems to have dictated a cap to protect itself. Those reports seem to be more important to BP than compensating individuals and businesses hurt by their oil spill.
3. BP thinks it can wait you out

As we stated before, BP has a vested interest in dragging out the claims process. When people are in financial straits, they are willing to accept less than they deserve if they can get it faster. Basically, BP is pressuring people to take settlements that are significantly lower than what they are owed by dragging out the payment process.

It does not have to be this way. The best way to avoid the BP/GCCF "delay and deny game" is by getting a strong legal team to defend your BP claim. At BPClaimsAppeal.com we have a group that focuses on claims that have been rejected or given low offers from the GCCF. We can take those low offers and turn them around. If your claim was rejected by the GCCF, you have nothing to lose by working with us. For more information fill out the form or call us at 1 (800) 310-2970.