Speed up BP payments

The Times-Picayune, New Orleans: Kenneth Feinberg, administrator of BP’s compensation fund, has earned some criticism for delays in handling some claims — but in thousands of cases claimants share responsibility for not providing enough documentation.

Feinberg said recently that more than 105,000 claimants have not filed enough evidence of their 2010 losses, with many lacking any documentation from November and December. He said that makes it impossible for his staff to send those claimants final settlement offers or interim payments.

Claimants cannot expect payment from the Gulf Coast Claims Facility without providing proof of losses, and they need to work diligently to move the process along. On the other hand, the GCCF needs to make sure that individual claimants know what documentation they need to verify losses.

Feinberg has paid out $3.5 billion, including final payments to more than 95,000 of the 496,000 claimants.

Getting records together for the claims process is not always easy. Some individuals, for example, have encountered delays getting their W-2 or 1099 tax forms from their employers.