In light of GMC’s ignition switch recall, General Motors
have placed a compensation fund aside for those who can show they have suffered
serious physical injuries or have lost loved ones from accidents involving the recalled
GMC vehicles with faulty ignition switches.
Approximately 1.6 million 2003-2007 recalled vehicles which were
manufactured with the ignition switch defect, along with about 1 million
2008-2011 vehicles which were possibly repaired with a recalled ignition switch.
Compensation checks will range anywhere from
$20,000 to several million, with $1 million being automatically awarded for
pain and suffering above other payments for accidents involving deaths.
Independently administered by Kenneth Feinberg, who also administered
the September 11 Victim Compensation Fund, this voluntary program compensates
those individuals if they agree to give up the right to sue General Motors. Although there is no cap on this victim
compensation fund, GM expects to pay out anywhere from $400-$600 million. Careful decisioning of approved claim
disbursement will be made by Feinberg, not General Motors, and can take 90-180
days, depending on the complexity of the case.
Prior to the August 1st program launch, Feinberg outlined a compensation
structure that is based on three tiers: 1) for death; 2) for catastrophic
injuries, such as permanent brain damage and paralysis; and 3) for less serious
injuries.
Claim
submissions can be completed online or by mail, and must be submitted by
December 31, 2014. A toll-free number has been designated for the GM victim
compensation program: 1-855-382-6463 (U.S. and Canada) and the claim forms and
submission information can be found at www.gmignitioncompensation.com.
If you have had any issue
with your GM vehicle, contact Davis Consumer Law Firm at 855-432-8475 for free lemon law
help. You may be entitled to financial compensation
or a free replacement vehicle. Visit www.usalemonlawyer.com to request a free case evaluation.
