Unclaimed Property Blog

With today’s economy, people struggle for their money. Then you read about a state with unclaimed money and unclaimed property wanting to give it back. Colorado just announced that it found $40 million this year

It is true an additional $40 million in lost and forgotten property is waiting to be claimed through the Great Colorado Payback program. This was announced by Colorado State Treasurer Mark Hillman.

Nearly 50,000 people now have assets with the state. The largest amounts of unclaimed money for this year range from $140,000 to more than $289,000. That would make a money search profitable.

There are some subjects that you know you should discuss with your parents but just do not want to. Finances is one of them. There are some things you do need to know. Read on for useful information regarding this subject.

First is to find a comfortable time in which to talk to your parents and then approach the subject in your best unemotional manner. Here is the information you want to find out:

Young America has responded to the State of Iowa lawsuit.

As posted on February 9th, the State of Iowa filed a lawsuit against Young America claiming that they are not refunding money to consumers who fill out rebate forms. Young America is now responding to that complaint.

Young America’s Vice President for Shareholder Relations, Roger Anderson , says a company called Affiliated Computer Systems (ACS) has been trying to find companies that are withholding rebates. He says ACS has represented about 45 states that have sought to audit Young America’s records. Anderson says his company has filed a lawsuit in federal court to try and stop the action of the states, saying they’re not a holder of unclaimed property.

Have you seen an increase in your household debt? More bills in the mail and less checks going out for payment? You are not alone.

Household debt grew at the fastest rate since 1987, the Federal Reserve said. The brighter side of this is that the net wealth of American households rose in the third quarter of 2005 as real estate and financial assets gained value.

Household debt grew at an annual rate of 11.6 percent, the steepest climb since the second quarter of 1987, when it rose 12.2 percent, the Federal Reserve said. Household real estate assets grew by $615 billion in the third quarter, while financial assets rose by $959.3 billion.

Iowa State Treasurer, Mike Fitzgerald, is not going to just sit back and do nothing about it. What is it? It is a rebate, you know, when you make a purchase with an offer to get money back. Well some don’t give you the money back. Here is a story about that exact issue.

State Treasurer Fitzgerald says he has asked the Attorney General to file a lawsuit against Young America Corporation for unpaid rebates. Fitzgerald found that this company as well as others offer refunds or rebates, but does not make good on the offer.

While it may be common for a person to look for unclaimed property, did you ever consider that the city may have money left unclaimed? Just think what this could do for your city.

More than a billion dollars is sitting at the Texas state comptroller’s office waiting to be claimed. Some of it belongs to public agencies and local governments, such as the city of Dallas, which has let it collect dust for years.

The city’s ambulance service has several hundred dollars in the state fund; Dallas Water Utilities, the city’s convention center and the library system also have money waiting . One unclaimed check is for $9,000.

Seven years ago the power company paid Robert Jenkins his deposit. He lost the check. Since he is a man of principle, he pressed on – here is his story.

Robert Jenkins, now 71, had rented an apartment and moved out in 1998. Shortly afterwards, Duke Power company mailed him a $41.18 deposit refund check.

The check got misplaced by Jenkins’ former roommate, but was found seven years later.

Jenkins then contacted Duke Power before he attempted to cash the 7-year-old deposit refund. His bank returned the check stating the account was closed. His bank also charged him $15 for the returned check.

It appears that people would know where their money was, so how is it that each state has money unclaimed? Here are some of the ways that people “lose” their money.

This money comes from many sources, typically utility deposits, savings bonds, bank accounts, family properties, safe deposit box contents, employment checks, and insurance policies that have gone unclaimed and are now turned over to the state.

When a state has a natural disaster like Hurricane Katrina, it’s coffers can tenfold in dollar value. The reason behind this is that a very large portion of those who lose their home also lose important papers. Also some tend to forget the exact location of many of their assets, after all it was written down on the important papers.

New law has banks and other institutions giving money to the state as unclaimed property

Passage of the Sarbanes-Oxley corporate reporting law and other changes in corporate governance have caused a large increase in the amount of “unclaimed property� money being collected by all 50 states, state treasurers said.

That means a growing number of Americans could collect large piles of money, if they only knew where to look. A Baton Rouge man recently learned that the state of Louisiana owes him about $750,000 in stocks and dividends from an investment account he had lost track of years ago.

Steve Westlly the CA State Controller has been traveling through the state giving money away. He is the person possibly holding your share of California’s $4.8 billion worth of unclaimed property.

San Francisco residents were recently urged to check for unclaimed money as Controller Steve Westly continued a campaign urging residents to check whether the state is holding any of their money in the form of unclaimed property.

The state has $4.8 billion worth of bank balances and miscellaneous items whose owners could not be located after three years, according to the controller’s office.