Solutions for Risk Exposure®


On the Different Ways Claims are Paid
by BP and the GCCF

Two Methods for Claims Payment by BP and the GCCF

The guidelines for the Gulf Coast Claims Facility ["GCCF"], identify two ways to receive your money, after the claim has been approved. One is direct deposit, and the other is by a check. Each claimant chooses the payment preference as part of the claim submission process.

Seek the assistance of a competent loss professional
If your business was damaged or lost income
After the BP Oil Spill

Contact John Ruskin at the address or phone number, below.

John Ruskin is a Louisiana attorney and a licensed adjuster in multiple states
with a background in business claims.
Additional background on John Ruskin is available here.

There is no fee for an initial consultation.

BP claims payments are reported to the IRS and may be taxable income

Tax IDs are collected from all claimants as part of the BP claim process; they are either social security numbers ("SSN") or tax identification numbers ("TIN").

Payments coming from the GCCF and BP will be reported to the IRS. This is true whether the payment is an emergency payment, a GCCF interim payment on BP interim claims, a GCCF final payment on a final claim submitted to BP and the GCCF, or a quick payment as part of the "quick claim final payment" offered to some claimants.

Contact your tax advisor to establish how you should report these payments.

For consultation on BP claims, please contact John Ruskin at the address or phone number, below.

Background on John Ruskin is available here.
How to contact Ruskin & Associates

     JohnRuskin (at) ComplianceOfficer (dot) Com

     phone number

Postal Mailing Address:

     phone number

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