Why Do I Need a Lawyer to handle my BP oil spill claim? Can't I just talk to BP myself about a settlement?
A lawyer can help you understand the two-part claims process and your legal rights. The first part of the process is payment of emergency claims for losses up to six months at a time. The second phase, which will start 90 days after the well is finally plugged, is a process to negotiate lump sum payments to cover economic losses from the spill. If you agree to accept a lump sum, then you’ll have to sign a waiver that you will not sue BP.
Here's a question to consider -- how can BP put a price on future economic losses from this catastrophic oil spill? They can’t. So BP would prefer that you handle your own claims because they know a lot of people will accept whatever small lump sum of money they offer. That will save BP a lot of money.
The reason you need a lawyer is because your economic losses may extend well beyond BP’s relief program, which is scheduled to end after three years. The Gulf and its residents may feel the effects of the massive oil spill for many years. It’s reasonable to question whether a lump sum payment made a year from now will be sufficient to account for your economic losses five or 10 years into the future if the fish or shell fish stocks don’t recover or if the tourism industry is diminished.
An experienced attorney at Arnold & Itkin LLP will advocate for your best interests in seeking to maximize the compensation you receive based on future economic losses. We’ll help you weigh your legal options before you sign anything that waives your rights to sue. Arnold & Itkin LLP obtained more than $100 million in settlements and verdicts on behalf of clients in 2009. We are aggressive and we know how to succeed in the courtroom and at the settlement table.
The unprecedented harm of the BP spill will continue to affect property, business and the environment for years to come. Given the scope of the disaster, Arnold & Itkin LLP formed the Oil Spill Task Force to coordinate the financial, legal and investigative resources needed to represent the claims of businesses and individuals whose livelihoods and property are threatened by the BP oil spill.
If you would like to discuss your complaint, then please call 888-498-8212 or use our convenient online form. We focus on representing your financial interests in claims against BP.
At Arnold & Itkin, we are experienced trial lawyers and aggressive advocates for our clients. Our attorneys quickly assess the strengths and weaknesses of each individual case and map out a strategy for winning. Our law firm secured over $100 million in verdicts or settlements for our clients in 2009. Once you meet the legal team at Arnold & Itkin LLP, you will understand why H Texas magazine in Houston named Arnold & Itkin LLP "Top Lawyers for the People" three years in a row and why Texas Monthly has consistently recognized our attorneys as “Rising Stars.”
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