Some debate on rebates
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.
Per Fitzgerald it is a violation of unclaimed property laws if companies do not honor the requests or send out the checks. He says the money should be turned over to the state, so the state can try to return the money to the rightful owners.
These small unfulfilled rebates add up to some big bucks. Since all the companies have to file with the IRS and the SEC, the filings show they owe over $43-million nationwide in unclaimed rebates. The figure for Iowans is over $400-thousand in rebates owed.
The lawsuit is requesting Young America to turn over its unclaimed rebate dollars to the state. Once the state gets the money, they’ll put it in the Great Iowa Treasure Hunt and try to return it to Iowans. Then people will be asked to go to www.greatiowatreasurehunt.com to see if they have money coming.
It is hoped that this lawsuit will make other rebate companies come forward and send unclaimed rebate dollars to the state.
If you are someone that does apply for rebates or think there is a possibility your state may owe you money for other reasons you can to to www.CashUnclaimed.com and do your own search. This company has pulled together all state and federal databases for one large search for your unclaimed assets. Many have found money they never knew they had. You could be next.
