Cash Unclaimed Media Room

Unclaimed money comes from many sources, and unclaimed child support is just the latest little pot of gold we’ve discovered at “Good Morning America” in our quest to “Show You the Money.”

Actually, unclaimed child support may be a big pot.

It’s hard to quantify because unclaimed child support is managed at the state level in some places and at the county level in others, but, by some accounts, there may be as much as $750 million out there, waiting for American children.

Tami Schwarz of Ohio got more than $31,821 in uncollected child support from her ex-husband.

You could too.

According to the California unclaimed property Law, the unclaimed funds holders, or the financial institutions, are required to report annually to the Controller’s Office to pass on the authority of the properties that are lying dormant under them for more than three years. The main sources of California unclaimed money are inactive bank accounts and businesses that are no longer functioning as the owners have changed their addresses or are no longer alive.

The current aggregate figure of $40 billion in unclaimed money across the nation will soon be history. The experts and economists are predicting that very soon we will be staring at a $100 billion figure of unclaimed money. This means that almost 90% of all U.S. families have somebody who has failed to reclaim their lost funds or assets. Whether it be a deceased relative, or a family member, unclaimed money exists in every family across the United States.

Recent reports from the Utah County Health Department substance abuse division states there has been a 2 percent increase in the total number of patients, who are seeking medication and treatment for drug addiction for more than five years. As per the reports, Utah unclaimed cash is piling up at an alarming rate and these can be used to curb the problem easily but there are chances that the rightful owners may not like the idea.

It has been the top priority for the decision makers in all the states to reduce the amount of unclaimed money. States like New York and California are the front-runners in the government unclaimed money balance. Some of the richest unclaimed fund treasuries in the U.S. are New York with $10.5 billion, California with almost $6 billion and Texas with $2 billion.

The influx of unclaimed money continues, and billions of unclaimed money is still being added to the state treasuries across the nation. Most of the state treasuries have reported that the major source of unclaimed funds and properties are abandoned bank accounts, unclaimed savings and checking accounts, child support payments, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies, uncashed death benefit checks, and the contents of safety deposit boxes.

Arkansas is dealing with the increasing problem of state unclaimed money and unclaimed property despite the repeated initiatives of the state agencies. As per the records of the state treasuries, total unclaimed money within the state was $128,000,000 dollars and 500000 individual records.

Despite all the initiatives organized by the state agencies of Arkansas, the piles of unclaimed property are still increasing at an alarming rate. Although the agencies managing these funds claim that about $9,200,000 dollars were returned to their rightful owners, still the pile is increasing at a rate much more than the reclaiming rate. Initiatives made by the state include publishing records annually that consist of list of people along with state unclaimed money under their name.

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.

Affiliates can now sell for Cashunclaimed.com on the Affiliate network Commission Junction. With over $45 billion in unclaimed money an property sitting with the government, it has become apparent the government needs help informing the public on unclaimed money.

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.