When some people didn't receive their claims checks from BP (NYSE:BP) recently, it caused consternation and uncertainty as to what was going on, as there was seemingly no communication between some of those who had been looking for their checks, which didn't arrive on the usual date.
BP took care of that later on Thursday, saying they'll begin issuing the July advance payments for those workers who have suffered from the Gulf spill.
The difference this time around is the payments will be based on actual, provable income rather than estimates BP had been previously making for May and June.
Documents proving the losses are required for continued payments, if they're higher than $1,000 a month. For those without documentation, the claims payment in July will be $1,000. If documents are provided afterwards which prove claimants made more than $1,000, BP will make a payment to make up the difference.
“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.”
Since the explosion on the Deepwater Horizon, BP has received 98,600 claims, of which they have paid out $153 million in response.