Tennessee’s Unclaimed Funds Total Almost Reaches $500 Million
An alarming time for Tennessee’s government as their total amount of unclaimed funds is about to reach the shocking rate of $500 million. The worried government officials are now discovering and researching new ways to control and decrease this amount by means of their unclaimed money websites and awareness programs.
The Tennessee unclaimed funds department is facing tough times nowadays because it is facing the danger of total unclaimed funds to reach an alarming rate of $500 million. As per the current statistics provided by the Tennessee government, their total amount of unclaimed funds has already touched the value of $452.6 million.
The state of Tennessee also didn’t experience a successful claim rate even last year, as the total amount of unclaimed money returned last year was only $23.85 million. Out of this, 20,000 cases were recorded as wrongly claimed. Now, the government being displeased with its current strategies that doesn’t seem to be working, is planning to move to new and more effective ones.
Their state initiatives are thus planning to adopt some effective outreach methods that could help them to tackle this problem. These outreach methods are mainly targeted to help the people find unclaimed funds through their website. They are now listing various unclaimed properties on websites las well as on their own official website.
Further, to make sure that no wrong claims are made or none of them is left out due to incomplete inquiry, the state treasuries are sending claim forms to the last known addresses along with matching their databases with databases available at other places. They are also making use of known and successful tools for promoting and advertising their outreach and awareness programs so that more and more people show interest in getting associated with finding unclaimed funds.
