Cash Unclaimed Media Room

Millions in unclaimed money has been returned to its owners due to the Palmetto Payback. The Palmetto Payback Program has been able to reach out to millions of people who could be the potential owners of unclaimed money. A large number of companies transfer millions of dollars into this program annually, after they are unable to locate the owners. Examples of the type of property covered by the Program include bank accounts, stock certificates, checks, insurance policies and utility deposits. The Palmetto Payback Program does not include tangible property like land or vehicles.

Unclaimed money searches often begin on a very skeptical note for most of the potential claimants. It is unbelievable for most of the people that the state might be holding some of their lost funds or properties and which can be claimed through a legal process. The awareness campaign initiated by the various state treasuries, NAUPA and the federal government, has made some impact as far as the number of people coming forward to claim their funds is concerned.

With unclaimed money growing at an alarming rate, unclaimed life insurance has become a new source of influx into the state treasuries. The unclaimed life insurance money does not stay with the insurer indefinitely and is eventually transferred to state unclaimed property divisions. Most of the states are mandated by law to publish information on Web sites or in local newspapers.

A few insurance companies have their own websites that list unclaimed life insurance policy amounts. Once these unclaimed life insurance monies are in the dormant state for a long time, they are transferred to the escheat funds of the states to be utilized for the state welfare programs.

Government is in possession of millions of dollars in unclaimed tax refunds. This money is lying with the U.S treasury in the absence of any rightful owners. According to a recent report, millions of U.S. residents (around 28 million) are still relying on food stamps to survive while billions of dollars are still waiting to be united with their rightful owners.

The combined value of unclaimed money in the 50 states is over $30 billion, which is being safeguarded by the government in the various State Treasury Departments. States like New York and California are one of the largest collection points for unclaimed tax refunds.

Imagine making money without doing much. Thats exactly what Cashunclaimed.com is offering with their affiliate program for the month of May for new affiliates! Not only do they have an excellent commission structure, they recently announced they will be rewarding their new affiliates with DOUBLE commissions during the whole month of May!

Affiliate networking is one great source of marketing the unclaimed money searching service, Cashunclaimed.com, utilizes. It is a great way for both affiliate and the company to succeed. As an incentive for affiliates to join their campaign, Cashunclaimed is running a double commission special for the whole month of May! Not only is their commission structure one of the best, but when doubled, this can mean some great opportunity to earn some money for their affiliates, along with increased sales for the company.

Like the U.S, Canada is experiencing unclaimed money problems of extreme proportions. As of the last report, over 780,000 bank accounts worth $227 million is being held by the Government of Canada. In reality, this is much less compared to the United States, but it might just be the tip of the iceberg.

The basic rules of escheatment for unclaimed Canadian property are: Any money deposited in a Canadian bank that has had no activity for 10 years or more is declared unclaimed. This includes deposits in the form of savings accounts, bank drafts, certified cheques, deposit receipts, money orders or ‘Travelers cheques’. The Canadian Government maintains the balances and acts as a custodian on the owners behalf until they return to claim their money.

Unclaimed property has been a logistic and bureaucratic nightmare for most of the state treasuries. This has resulted in a lot of financial strain for the state government in order to maintain and safeguard the unclaimed funds.

In today’s economy, the majority of the states have a budget deficit. These overhead resources, unclaimed property, and money is a burden which is unavoidable for the moment. The center on Budget and Policy Priorities has been questioning states regarding the budget deficit and what are the plans to minimize it. It estimates that the combined state budget deficit over the next two and a half years is likely to be about $350 billion. This will account for about 20% of the state budget.

California is one of the biggest recipients of unclaimed property. This pile is growing unabated with almost 11.6 million individuals still unaware of their unclaimed cash or property. As a viable solution to this unmanageable situation, the state of California has enacted Unclaimed Property Law that requires property holders such as corporations, business associations, financial institutions and insurance companies to annually report and return dormant property to the State Controller’s Office. As of the last estimate, about $600 million are collected by the California state unclaimed funds division annually.

A West Virginia church has been the beneficiary of $10 thousand worth of unclaimed property. According to the reports, State Treasurer John Perdue presented a $10,312 check to Rev. Monty Brown of St. Mark’s United Methodist Church in downtown Charleston on Friday.

Perdue’s bureau found mislaid resources from the St. Mark’s Educational Trust Fund, which is used to compensate the preparation of destiny pastors and deacons in the Methodist Church. The funds were discovered by the office of the Purdue field officer Roger Hughes. The funds raised will be allocated to the seminary of the church to fund the education expenses of students studying at ministries.

A West Virginia church has been the beneficiary of $10 thousand worth of unclaimed property. According to the reports, State Treasurer John Perdue presented a $10,312 check to Rev. Monty Brown of St. Mark’s United Methodist Church in downtown Charleston on Friday.

Perdue’s bureau found mislaid resources from the St. Mark’s Educational Trust Fund, which is used to compensate the preparation of destiny pastors and deacons in the Methodist Church. The funds were discovered by the office of the Purdue field officer Roger Hughes. The funds raised will be allocated to the seminary of the church to fund the education expenses of students studying at ministries.