Feinberg: Oil Claims Process Ready in 30-45 Days

The head of a new office created to process claims from the BP oil spill says a plan to handle the remaining damage claims will be in place in 30 to 45 days.

Kenneth Feinberg was chosen by President Barack Obama and BP to oversee the Independent Claims Facility. His comments in Jackson, Miss., on Friday come as the House Judiciary Committee says data it's collected shows that BP has paid less than 12 percent of claims submitted.

Feinberg says he also plans to have a program going forward that would guarantee that people making claims in the future would receive them within 30 to 60 days of submitting it.

Feinberg says guidelines will be developed for people and businesses making claims, though it hasn't been determined if the payouts will be considered taxable income.