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titanic family myth help please

Hi All,
My family have been saying for years there is a 'Titanic' connection on my nan's side.
Supposedly nan's brother or uncle was in the merchant navy and was going over to America to join another ship and died when the Titanic went down.
My gt grandfather received compensation with which he opened up a drapers shop.
How on earth can I start to unravel this one?
Is there some list of payments made to bereaved relatives I could check.
i do have another distant relative looking at passenger lists but nothing has turned up there.
There is a possible link to one of the crew though.
Any suggestions please.
I would love to find out one way or the other if there is any shred of truth in this or if it is just family chinese whispers!!
The family in question is Mullen or possibly Bruce from Jarrow.
Thanks Kim