Searching For Your Unclaimed Money
The US government is holding over 300 billion dollars in unclaimed money. It is estimated that 8 in 10 Americans represent the owners and need only claim it to receive their entitled share. In May of 2006, ABC News reported that the average return for people who claim these lost funds is around $920.
WHAT??
You heard me. This unclaimed money is real and it just might be yours. By law, companies that owe money to an individual who they have lost track of are required to turn that over to the government after a certain period of time. Could you have ever moved without informing a company of your new address? Could you have forgotten to cash a refund check, or a last paycheck for an old job? Maybe you forgot about or lost track of an old bank account, or old stocks, or bonds, or dividends, or an insurance claim, or a security deposit refund. The list goes on and on…
So why doesn’t the government race to find you wherever you are and give you back your money? Well, as far as their concerned, if you didn’t keep contact with a company, then you screwed up. They’re happy to hold on to it for you though, and let it earn it interest in their bank, until you come and claim it.
There are dozens of websites out there that have opened up their database of unclaimed funds to the public. By typing in your name at these sites, you may be able to see the lump sum of how much unclaimed money government owes you… you and every other person of the same name. So yeah, basically, unless your name is Dragon Ashlandingson, that doesn’t help you at all. The Mark Johnsons of the world will have to pay a fee to see the more detailed info and confirm their entitled funds, and even then, there’s no guarantee until they contact the government and ask if they’re the right person. For your payment, the websites also provide contact information and tips for reclaiming your lost money from the government. The claimer will need to submit proof of identity, after which a check will be eventually be mailed to them.
Is it worth it to do a search on your name? Sure. Should you pay the fee for the information? Possibly. Perhaps if you’ve moved around a lot in your lifetime, maybe the more appropriate question “How responsible am I?”
Some popular unclaimed money websites:
- LocateCash.com
- UnclaimedAssets.com
- FoundMoney.com
- CashUnclaimed.com
- UnclaimedMoney.com
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