Unclaimed Property Blog

Identify theft can lead to lost money – this is the message law enforcement would like to send all Americans, especially those who have recently moved. When a person moves, they typically report their change of address to their employer, their bank, and to the government at tax time. If the address isn’t changed, checks can be mailed to the old address. This leaves the checks open to identity theft and lost money at the same time. To prevent lost money from becoming a liability, here are a few things to think about and a few tips to help better manage any lost money that may be owed to you.

Hundreds of thousands of people are being offered the chance to find lost cash in Illinois, and you may be included. If you live in Illinois or you used to live in the Midwestern state, you may be the rightful owner of tens, hundreds or thousands of dollars. The Illinois state treasury is currently managing millions of lost or missing dollars and so far all efforts to return that money have failed miserably. Now state treasurers are asking for the public’s help. Help the state reunite lost cash in Illinois with the rightful owners and potentially put more money in your pocket at the same time.

After finding unclaimed money, many individuals are wondering if they can now invest the money that has been out of their possession for some time. To invest unclaimed cash is nothing new. Many states use the practice to fix monetary holes in their over strained budgets. Sadly, the practice isn’t very popular with the public. If you have recently found money and it’s now burning a hole in your pocket, here are a few reasons why you may want to keep your unclaimed cash invested.

The States Invest Unclaimed Cash

You don’t have to go to Vegas to bet on big money in Nevada. If you live in the state or you used to reside there, you may be able to claim lost funds in Nevada to the tune of hundreds or even thousands of dollars. If your name matches one of the names on the state’s Nevada lost funds registry, you’ll be able to claim what’s rightfully yours. To find out, you need an Internet connection and a name. Are you ready to find out if you have ever lost funds in Nevada? Step right up and learn how.

The US Treasury is attempting to locate the owners of lost stock market and savings bonds and so far officials have had very little luck. The problem is that all of these stock market certificates and savings bonds are owed to residents all over the country, and most of the addresses on file are incorrect. Americans love to move around, but that makes allocating lost or missing money rather difficult. To help alleviate the problem, officials are urging residents to search online to see if they are the rightful owners of any of these stock market or savings bonds being stored in limbo.

Kansas officials are tired of managing all the state’s missing money, so they’ve decided to finally do something about it. The officials want the state’s residents to know that they’re not responsible for the Kansas missing money that is being held in the treasury coffers. The millions of dollars being managed belong to the current and former residents of the state. To allocate all of this missing money in Kansas to the rightful owners, officials are calling on the help of a massive online database that promises to help anyone discover missing money in Kansas.

Even though lost cash and found money may sound very different from one another, the US treasury sees them as one in the same. You might think of lost cash as someone dropping a twenty dollar bill on the ground accidentally, or maybe even being money or funds that were stolen from you or unfairly taken in some other way. This might lead you to think of found money as someone coming along and picking up that bill sometime later or maybe even like stumbling upon a hidden treasure chest. Yet the US treasury sees lost cash and found money as something that the average US citizen needs to get a handle on and learn all about.

Lost fund costs are increasing into the billions of dollars and treasurers around the nation are at odds on how to stop the problem. Many people who speak of these lost fund costs liken the wave of money to an ocean tide. Some months hardly any checks flow in. On other months, particularly around tax time, checks and funds from around the country flow into state and federal treasury offices. These checks represent the hard-earned wages of average Americans – lost paychecks, abandoned bank accounts, misplaced 401K accounts. Yet with the public largely unaware of the problem, and with millions of dollars flowing into state and federal coffers annually, a solution must be made and it needs to be made soon if the country hopes to keep these lost fund costs below the national average.

Florida is facing financial overload and it’s calling on the state’s citizenry for help. While a financial overload may sound like a great problem to have, it’s not such a great problem when you consider that all the cash is missing and that it belongs to people who, for the most part, don’t even know it exists. Further compounding the problem is that all the missing cash in Florida is typically years old, which makes locating the rightful owners even more difficult for the state’s treasurers. For this reason, the treasury is calling on everyone to help. Help relief missing cash in Florida. Don’t worry, you don’t even have to leave your chair.

Many Americans are surprised to find that they are paying unclaimed property interest on property that they didn’t even know they owned. Confused yet? So are these individuals who are just now finding out how enormous the unclaimed property conundrum is in this country. Unlike finding buried treasure, you actually have to pay interest for how the property was serviced while it was not in your possession.