BP Ready To Pay Six Months In Claims: Fund AdministratorFont size: A | A | A1:05 PM ET 7/11/10 | Dow Jones WASHINGTON (AFP)--The man charged with doling out BP PLC's (BP.LN, BP) compensation to victims of the Gulf of Mexico oil spill said Sunday he is prepared to pay up to six months of expenses in advance, but getting people to file claims is a struggle.
Kenneth Feinberg told CNN he wanted to provide "some degree of financial certainty," to people who have found their livelihoods hurt by the massive oil spill. "If they are eligible, we will give them up to six months emergency [compensation]."
But, he lamented, "I can't help people if they don't file."
Many of the fishermen and others who work in the U.S. region of the Gulf region regularly get paid in cash and do not have paperwork to back up their claims of lost income. They are also worried that if they ask for compensation, the government will seek taxes for previous income.