BP Oil Spill Settlement Funding Helps Plaintiffs Pay Bills

Jenn Fusion | September 27th, 2013

BP Gulf Oil Spill Settlement LoansFraud has tainted the BP oil settlement proceedings. Last week, Claims Administrator Patrick Juneau asserted that BP Oil Company’s $45 million fourth-quarter budget reduction was part of a strategy to halt claims payments in the court-supervised settlement program. In a filing, Juneau wrote, “… even legitimate actions to curb expense and achieve more efficiency could be viewed as nothing more than an effort to ‘slow walk’ claims payments, while the court battles rage on.”

Fraud delays BP oil spill settlement funding

On the other hand, BP has launched an aggressive publicity campaign to defend their handling of the crisis, complete with full spread ads in the NY Times. They retort that fraud is miring the claims payment processing. So far, seven people have pleaded guilty to stealing money from an oil spill settlement fund, according to Alabama Attorney General Luther Strange. The defendants created fake documents claiming they had lost money due to the 2010 oil spill, but now they are facing up to five years in prison and have collectively been ordered to pay back more than $20,000 in restitution.

The company has continuously submitted requests to halt settlement payments. In their most recent plea, BP argued that they are “at risk of suffering irreparable harm if fraudulent claims are paid, or monies are otherwise wasted through the payment of unnecessary and inefficiently incurred administrative expenses.”  Bloomberg News reports that the $8 billion settlement may have hurt BP more than help them at this point. They are now relying on the U.S. district court of appeals to reign in hefty demands – like a $21 million payout to a rice company 40 miles from the coast.

Claimants can anticipate more delays as the investigation and appeals processes unfurl.

BP oil spill settlement funding help plaintiffs get fast cash

Individuals affected by the Gulf oil spill have already waited three years for settlement money. Now that payments finally start to go out in June 2013, the payment processing is stymied by fraud and corporate heel-dragging. This news comes as a great frustration to claimants who were relying on that money to invest in their businesses, stay in their homes, pay medical bills, or put food on the table. While some may choose to wait and see what happens, people in the direst need of economic assistance can borrow against a future settlement.

If approved, claimants can receive BP oil spill settlement funding in as little as 24 hours from the date of approval. There are no credit, employment or background checks necessary. Applicants need only fill out a very basic form and a Lawstreet Capital representative will discuss your case with your lawyer to determine eligibility.

Claimants who eventually win their settlements will first pay their lawyers and pay off any existing medical or child support liens before submitting payment to the loan company. Individuals whose settlements are not approved will not have to repay the money borrowed. For many claimants, BP gulf oil spill settlement loans are the lifeline they need to get by.

Call LawStreet Capital today for a free and confidential chat with a representative who can help you through the quick and easy application process. Call anytime, toll-free at 1-866-FUND-662. It’s free to apply.