New facility means faster settlements for BP claims, but don't give up your rights.

Residents and businesses affected by the Gulf Coast oil spill may now submit their damage claims to the Gulf Coast Claims Facility, the new independent group that is taking over the administration of BP's $20 billion compensation fund. Kenneth Feinberg promises that those filing legitimate claims will receive checks within 24 hours.
 
Since the explosion of the Deepwater Horizon oil platform on April 20, 2010, thousands of people have joined in class-action lawsuits claiming loss of earnings related to the BP oil spill. However, these victims are now faced with a tough choice of receiving immediate money from the compensation fund or putting themselves through the lengthy legal process of a lawsuit. Claimants who take settlements from the BP fund will be required to accept their settlement as final financial compensation. People who choose this option may be settling for payment before knowing the true extent of the economic damages there are eligible to be compensated for.
 
If you are considering applying for a quick settlement from BP, you may want to speak to a maritime lawyer to make sure that you are not giving up any of your rights under maritime law.
 
To learn more about the rights of oil spill victims, contact the Louisiana maritime attorneys at The Young Firm.  1-866-938-6113.
 
Victims can get emergency payments based on how close they live to the oil spill without waiving their right to legal action.