Cash Unclaimed Media Room

The Massachusetts unclaimed funds’ pile has been increasing at an alarming rate. In Massachusetts, it is estimated that 1 out of every 10 people have abandoned property. In the September’s publication of unclaimed properties, the total of unclaimed properties is now over $21 million in new unclaimed accounts with 40,000 individuals and businesses listed.

MA pursues its agenda of uniting the unclaimed funds with their owners in a very serious manner. In accordance with Massachusetts General Law c. 200A, Section 7A, a due diligence notice must be sent by first-class mail to every owner’s last known address at least 60 days prior to filing a report and turning over assets to the Abandoned Property Division.

A check for $66,481.39 for unclaimed property was recently presented to a Midlands man in South Carolina. In one of the most talked about unclaimed money stories in the state of South Carolina, State Treasurer Curtis Loftis presented a check for $66,481.39 which had gone unclaimed. This South Carolina unclaimed money belonged to a Midlands man.

Giving emphasis to the presence of an informative unclaimed money website, Treasurer Curtis Loftis said, “This is a great example of how easy our treasurer.sc.gov website is to use to find unclaimed property for people across South Carolina,”. “In this case, we were able to track down an old life insurance policy worth $66,000 and that money was just returned to the rightful owner.”

Colorado has proven satisfactory results in giving back unclaimed money to its citizens. The Department of Treasury of the Colorado state is satisfied that the results of Great Colorado Payback are very encouraging, and the state is hopeful of emptying its coffers of the unclaimed cash that legally belongs to the citizens.

State Treasurer Cary Kennedy recently announced that the state paid claims totaling over $500,000 to a single claimant in Fort Collins. It was one of the 20 claims valued between $40,000 and $1,000,000 during the last fiscal year. This year the department had eight claims that were worth more than $100,000. However, an average claim is about $100.

Unclaimed money searches have been gaining momentum in the last couple of years and there has been a flood of success stories which are not only inspirational, but also great case studies related to the unclaimed money scenario in the U.S. A few of these unclaimed money stories are worth sharing.

One of the oldest people to collect unclaimed money is Margaret Martin. At 103-years old, Margaret Martin is the 2nd oldest American recipient of state unclaimed funds. Her unclaimed funds came from an uncollected tax refund from several years back. “Well, I’m glad they cleaned out the old nest.” says the Jackson matriarch. State Treasurer, Tate Reeves, delivered her missing money personally and asked if she knew she had Mississippi unclaimed money in her name. “No it was an absolute surprise and I’m delighted to know it.” was her reply.

Unclaimed funds are being added to all the state treasuries in large volumes, and there is no respite for the authorities in charge of the state treasuries. In comparison to the volume of the incoming funds, the number of claims that are being made for the unclaimed money is very low. This is resulting in huge piles of money which have been lying unused for quite some time now. Different states are planning different action plans in order to utilize this readily available money for the good of the citizens of the state.