Cash Unclaimed Media Room

The states hold billions of dollars in unclaimed gift certificates, which go unspent every year. The amount of unclaimed gift cards is reaching an all time high. Every year the states face the problem of accumulation of unclaimed gift certificates worth billions of dollars. The data provided by New York state comptroller specified that last year the New York state collected $9.6 million in unredeemed gift cards.

Unclaimed money is at an all time high. Over burdened with the pressure of piling unclaimed money, the state is now working in coordination with the federal government to locate the rightful owners of the property. The state is launching several initiatives in the form of state treasury websites, monthly fairs, and annual press releases for the public.

The problem of state unclaimed money is increasing at an alarming rate. According to the records of the state treasuries, the amount of unclaimed assets with the agencies comes to be in billions. The states, in coordination with the federal government, are taking initiatives in the form of state run fairs and press releases that offer on the spot information and solution to the people.

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Cashunclaimed.com, one of the largest unclaimed money search databases, has contributed greatly in assisting the government, uniting many individuals find their lost money. One major publicity source utilized by Cashunclaimed.com is their use of affiliate sales to spread the word. With the recent join of top affiliate program,Commission Junction, there is no doubt the unclaimed money word will reach even more individuals, leading to greater returns of unclaimed money from Cashunclaimed.com.

Almost all states have enacted unclaimed property laws, which states that any property, money or assets will be considered “abandoned” after three to five years, provided that the owner remains inactive during that period. In case the property is deemed abandoned, the law requires that landlords, banks, utilities, hospitals, brokerage firms, mutual funds, insurance companies, and other organizations return the property to their respective owners.

Unclaimed property may include items such as forgotten bank accounts, uncashed pay checks, unclaimed security deposits, unredeemed gift certificates or cards, stocks, mutual funds, safe deposit boxes, utility deposits, uncashed death benefit checks and life insurance proceeds. The respective State Treasurer’s Office, wherein the property is located, acts as custodian to safeguard the assets until the owner or heirs claim it.

Currently, the unclaimed property mark reaches an all-time high. The states, along with federal agencies, have more than 50 billion dollars of unclaimed money that are still waiting for their rightful owners. This state unclaimed property ranges from un-cashed payroll checks to forgotten bank accounts that are no longer into use.

According to the reports of many state treasuries, the biggest contributors to unclaimed property are the lost insurance policies of the deceased. The main reason behind the accumulation of these policies is the lack of knowledge among the relatives or the family members of the deceased.

Unclaimed money in United States is growing like never before. Most states are facing the large burden of millions of dollars in unclaimed money. The pile of unclaimed money is growing at a rapid rate and increasing the burden on the state agencies, who are managing the same. The state, in coordination with federal agencies, has launched many tools that will prove to be of great help for the public in locating their unclaimed assets.

The states have all been working hard, along with the federal governments to promote the claiming of unclaimed money. The amounts continue to rise as the number to searches remains stagnant.

According to the latest reports of Florida Department of Financial Services, the state has millions of dollars in unclaimed life insurance.

If the reports of Florida Department of Financial Services is to be believed, then the state holds around $355 million in unclaimed life insurance, while the total Florida unclaimed money is somewhere around $1 billion. Every year, around hundreds of millions in life insurance benefits goes unclaimed, mainly because the beneficiaries are not aware of any unclaimed money that he owns. Eventually, these benefits from life insurance are transferred to Florida unclaimed property divisions, who benefit from this money in the meantime.

The idea of having an unclaimed tax refund seems taboo. Georgia has been facing the problem of unclaimed funds and one of the major sources of unclaimed funds is the unclaimed tax refunds.

The Internal Revenue Service has more than $35 million in unclaimed refunds for Georgia residents who did not file a 2007 tax return. 2007 was one of the largest unclaimed tax refund years and the state authorities and IRS officials are still grappling with the overflow of unclaimed tax refunds that now sits in the coffers of the state treasuries, waiting to be claimed by the actual owners. As far as the year 2007 unclaimed tax refunds are concerned, the IRS estimates half of the potential 2007 refunds in Georgia are for $590 or more.

More that 1.3 million residents of New Jersey have unclaimed money which is still waiting to be claimed. A WCBS news report says 200,000 Garden State dwellers have NJ unclaimed money from property tax refunds worth a whopping $200 million. This is quite startling considering the fact that the New Jersey residents pay some of the highest property taxes in the country, as much as twice the amount paid by residents in the other states.

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