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BP To Begin Issuing July Advance Payments
07/08/10 - 01:27 PM

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BP said today that it will begin issuing July advance payments for loss of income to claimants across the Gulf Coast who have been impacted by the oil spill in the Gulf of Mexico.

The July advance monthly income payments will be based on actual monthly income rather than on the estimated amounts BP used to make payments in May and June. In figuring the monthly income due, BP is taking into account the seasonality of the fishing/seafood industry.

Those who have provided documentation will receive checks based on their actual loss. Those who have not provided documents to support their income loss claim will receive a July payment of $1,000. If documents show a loss greater than $1,000 after a payment has been advanced, BP will provide a supplemental payment.

“If individuals have not given us supporting documents, we need them,” said Darryl Willis of BP’s Claims Team. “For many it has been 45 to 60 days, and we would like to ensure that we are paying them for the income they have lost.”

This documentation can include tax returns, trip tickets or pay stubs and will allow BP to calculate monthly loss based on actual income. Individuals can bring the information to a claim office, mail it to BP Claims, P.O. Box 17160, Wilmington, DE 19850, or fax it to (302) 476-6272.

Willis said BP has received 98,600 claims to date, and paid more than $153 million to individuals and businesses in nine weeks. ‘We are fully committed to paying all legitimate claims,” Willis said.

Claimants will receive information about the process in letters that will start going out this week. BP also will communicate this process through its outreach teams. July advance payments will be sent about 30 days after an individual received his or her June advance.

Claimants must provide verification of their income in order to receive payment in August and future months.

BP began issuing interim advance payments in May in order to get money into individuals’ hands as quickly as possible. Deckhands were advanced $2,500 per month while fishermen who run a crew were advanced $5,000. Many claimants have provided additional information and have been given payments higher than these estimated amounts.

BP required only minimum documentation of deck hands, boat captains, shrimpers and others to receive the initial payment. Claimants have been asked by adjusters and through written correspondence to provide additional documentation to support their loss of income claim.