Missouri Facing $600 Million in Unclaimed Funds
Missouri is experiencing a large amount of unclaimed funds with the state treasury. All the renowned state treasuries are aware of the problem of unclaimed or lost funds. Similarly, the Missouri unclaimed property pile touches an alarming figure of $600 million. In comparison to the growth rate of Missouri unclaimed funds, the reclaim rate is pretty low, which is a big cause of concern for the state agencies.
Missouri unclaimed money search was an unrealistic concept for many of the people who live in the area, as they never believed in getting back lost funds. The state considers this ignorance as the main reason behind the growing pile of increasing unclaimed funds in the treasury that are still waiting for the owners.
The total unclaimed money records currently with the state agencies are about 600 million. It is due to the efforts of the state, in coordination with the federal agencies that there has been a massive return of $35 million last year. The state initiatives introduced by the agencies include efforts like sending individual post cards to the owners of the lost property on the last known address.
Missouri maintains an official website by the name of WWW.ShowMeMoney.com, wherein people can conduct free unclaimed money searches. People in the state of Missouri also have an option of registering for free E-mail notification if they have any unclaimed property lying under their name.
The state organized fairs offer on the spot information to the people on a walk-in basis. These fairs assist people in locating unclaimed properties around the state and help them in reclaiming through the mentioned procedure. Over the phone assistance to the public is offered to the people who wish to file application for reclaiming process. The state agencies believe these steps will assist them in getting a firm grip on the increasing problem of unclaimed funds in Missouri.
