West Virginia Unclaimed Money
The Mountain State has a mountain of residents’ lost money sitting in its Treasury Department. During these times of financial chaos when multitudes of Americans are hard-up for extra funds, it’s quite ironic that it’s there. But the $110 million unclaimed money in West Virginia even stands to grow for the same reason it got there in the first place- most West Virginians (and Americans for that matter) are oblivious about their missing money.
Given the recent hurricanes, mortgages, floods and ever-increasing pace in which we live our lives, losing track of our finances is quite normal. When people have to abandon their homes in a hurry or move to ‘greener pastures’, it’s easy to forget about leaving a notice of a change of address, getting that final paycheck, or closing-up a bank account. WV unclaimed property can come from many sources, but interestingly enough, it’s due to oversight. “They may have a paycheck coming to them that they didn’t realize or some stock their grandparents purchased when they were a child and it was forgotten in a safety deposit box,”‘ State Treasurer Russ Perdue says. “There are all kinds of unclaimed property examples where money was forgotten.” This oversight of assets has been happening across the US actually and the collective amount spread-out among the States already exceeds $30 billion.
In a recent report on The Charleston Gazette, an unclaimed money check for almost a million dollars was presented to local coal company from Appalachian Power. Approximately $965,000 was presented to a lawyer representing Direct Coal Sales stemming from a refund based on a business contract. The check was the largest yet for West Virginia unclaimed money says Assistant State Treasurer Paul Hill in the report.
Anybody’s name can turn-up on a list of of owners of lost assets. Doing an online search for state unclaimed money might just hook you up with much needed cash.
Kentucky Unclaimed Money
Hundreds of thousands of residents in the State of Kentucky have more money than they probably think. The State Treasury is currently holding $150 million Kentucky unclaimed money from financial assets citizens have aren’t aware, or have forgotten about. These can range from abandoned bank accounts, lost or uncashed checks and gift certificates, old stocks and bonds, even odd items like jewelry or mementos left in safe deposit boxes whose owners can’t be located anymore. If owners of lost assets aren’t located after 3 years (usually), they are turned over to the State Treasurer’s office for safekeeping. Right now, the names on the Kentucky unclaimed property list numbers around 200,000 and since public awareness about KY unclaimed money is relatively low, these numbers are certain to grow each passing year.
A large part of the Kentucky unclaimed money pile is made up of unclaimed tax refunds. 11,000 Louisville residents are still owed $3.7 million worth of these. “The people who haven’t claimed these checks are often the people who could use it the most,” says Mayor Jerry Abramson. “Thousands of people could be letting this one-time windfall pass them by, but it’s an easy process to get the money that’s been set aside for them.” The unclaimed tax refunds in Kentucky average $651 and the IRS reports that 279,000 tax refund checks worth $163 million were undelivered because of address issues.
Indeed, more Americans should really be checking for missing money in their name- specially during times like these.
The Kentucky Unclaimed Property program has returned over $100 million to owners of KY unclaimed funds, but there’s still $150 million languishing in State Treasury’s coffers. The lost money would really come to good use in the hands of Kentucky residents feeling the financial crisis plaguing the country right now. Learning how to do a thorough method of doing an unclaimed money search online is the best way of finding lost cash in your name.
1.3 Million Garden State Dwellers Owed New Jersey Unclaimed Money
Residents of the Garden State pay some of the highest property taxes in the country- as much as twice the amount paid by residents in the other states. Once can’t help but wonder then why a significant number of NJ homeowners have neglected to claim their property tax rebates. Quite puzzling specially during times like these. A WCBS news report says 200,000 Garden State dwellers have NJ unclaimed money from property tax refunds worth a whopping $200 million! You think that’s a lot? That’s only a fraction of the total New Jersey unclaimed money pile in the State Treasury owed to 1.3 million people!
Aside from tax rebates, New Jersey unclaimed money comes from comes from numerous other sources like forgotten bank accounts, uncashed salary checks, insurance benefits, stocks and bonds that have been languishing, unused gift checks, even items from abandoned safe deposit boxes. People, specially if they’ve been working numerous jobs and have had several addresses tend to lose track of mailed checks or notices from banks and financial institutions. Businesses and companies that haven’t located the owners of lost money and property after a ‘dormancy period’ have to hand them over to the State for ’safekeeping’ as stipulated in the National Unclaimed Property Law. The citizens’ lost money is kept in the State Treasury until the rightful owners come around to file a claim. The State also holds outreach programs to try to let people know about New Jersey unclaimed funds. Last year, the NJ State Treasury unclaimed property advertising campaign reunited some 36,000 residents with $85 million of their missing money.
The economic conditions in the US is a bit gloomy right now and the fact that there is an estimated $33 billion worth of State unclaimed property across the country is quite ludicrous if you think about it. Fact is, not enough people are checking for unclaimed funds because most Americans aren’t even aware they might have state unclaimed property in their name. Doing an online unclaimed money search can do wonders for Americans whose wallets have been yearning for contents during these tough economic times.
Tennesse Unclaimed Money
Millions of dollars worth of Tennessee unclaimed property are turned into the State’s Treasury Department every year. The TN unclaimed funds belong to citizens residing in and sometimes even outside of The Big Bend State who have somehow lost track of their finances due to oversight, change of address, or errors in the mailing of financial documents. Like those of other States’ Tennessee businesses and financial institutions are required by law to turn over people’s missing money and property after being unclaimed after 3-5 years.
The $370 MILLION Tennessee unclaimed money pile gets bigger each year because the amount of TN unclaimed property the Treasury collects from banks, insurance companies and businesses is way bigger than the amount given back to owners of lost money. Reason for this is mainly lack of awareness among residents and lack of manpower in the TN Unclaimed Property Division.
Everyone should check if they have TN unclaimed money in their name- it’s quite surprising whose names appear on the State’s list of unclaimed property owners. Knoxville Commissioner Richard Briggs turned-out to have $250 from an old insurance policy. “When I got the call, I thought it must be some kind of mistake,” said the Commissioner. “When people say the word ‘property,’ I initially thought it meant land or buildings instead of money.”
A former UPS employee found out he had almost of $500 coming to him after a friend saw his name on a list of people owed Tennessee unclaimed money. Turns out he was missing money from his last paycheck at UPS. Funny thing is he had already been receiving pension checks for two years. Surprisingly, even State agencies of Tennessee are owed unclaimed money. A collective of total of $10,000 are owed to the Department of Commerce and Insurance, Department of Safety, Department of Transportation, Tenncare, Department of Revenue and the University of Tennessee! “It’s interesting, funny, that one state agency can’t find another state agency to give them their money,” says House of Representatives candidate Ron Hickman who decided to check if the State itself has unclaimed money. Assistant Treasury Commissioner Steve Curry in Nashville’s WSMV-TV News says (with sarcasm, I’m sure) “We can find the University of Tennessee, and we will return the property to the University of Tennessee and the other departments”
Think about it. If State agencies themselves can be owed unclaimed property money, what more the average Joe at his office or at the corner fast-food joint flippin’ burgers? Do an easy online unclaimed money search now- you just might have an uncashed check or lost loot out there somewhere.
New Mexico Unclaimed Money
A recent post on New Mexico’s Las Cruces News announced that the State’s Taxation and Revenue Department will soon be holding its annual outreach program in reuniting NM unclaimed property with its owners. “We’ll be advertising in newspapers all over the state, and we’ll be available at our booth during the state fair,” Rick Homans, secretary for the department says. “We encourage everyone to review our lists to see if we might be holding some of their property or money — and we will be more than happy to give it back.”
Like most states, NM holds New Mexico unclaimed money and property for its owners forever until they are claimed. Lost and abandoned financial assets are collected by the State after if they go unclaimed after a few years and the businesses and financial entities are required by the National Unclaimed Property Law to hand them over. People lose track of bank accounts, stocks, bonds, insurance policies and the like when they change addresses or switch jobs. Unclaimed tax refund checks are also categorized as New Mexico unclaimed funds and over $10 million worth of these are owed to 35,000 NM senior citizens and disabled veterans who have until October 15 of this year to claim them. After that, the unclaimed tax stimulus checks will be turned-over to the state where they can still be claimed after some processing.
Local newspapers will advertise names of people owed New Mexico unclaimed property throughout September and outreach booths will be set-up in State Fairs also. Last year almost a million fair-goers were reunited with their missing money from these state unclaimed property booths. This year, a total of 748,000 citizens are owed New Mexico unclaimed property worth roughly $110 million!
Too busy to visit the State fairs? Find out how to do a proper and effective unclaimed money search yourself and avoid ‘finders’ who are just after a chunk of you lost money.
Family Finds Lost Heirlooms In Colorado Unclaimed Property Division
A jade necklace, assorted jewelry, a diamond-encrusted Buddha figurine- these are some of the family heirlooms that Nora Wang thought she had lost forever. A short while after receiving an overseas call from her son (she’s now based in Taiwan), the 60ish Chinese immigrant joyously finds out the priceless heirlooms that have been passed-down through her grandmother still remains with her family. This according to a report in the Rocky Mountain News.
“The Great Colorado Payback” is a program run by the State Treasurer’s office aiming to reunite Colorado unclaimed money and property to its rightful owners. Residents that have lost track of their financial assets through forgetfulness, change of address, death, etc. Nora Wang lost track of her safe deposit box when her bank’s ownership changed hands and she moved to Taiwan from the U.S.
Right now, the Colorado unclaimed money pile has grown to $50 million from unclaimed property collected throughout the State. The National Unclaimed Property Law, to keep citizens from losing their financial assets altogether, requires businesses and financial institutions to hand over dormant and idle accounts, uncashed checks, insurance policies, forgotten stocks and bonds and the like to the State. Tangible unclaimed property are auctioned-off if the State can’t find the owners after a while, so Wang was very fortunate not to have had her family jewels converted to Colorado unclaimed money.
Wang’s case just shows how important it is for Americans to do an unclaimed property search in all the State Treasuries they may have property in. Knowing how to do a thorough search for unclaimed money can spell cash for Americans during lean times like this.
South Carolina Unclaimed Money Returned To 100 Year-old Woman
SC State Treasurer encourages everyone to take advantage of “The Palmetto Payback.” A program run by his office annually to reunite residents with the South Carolina unclaimed money collected by the State annually. If you don’t find unclaimed money in your name after doing an unclaimed money search, chances are you’ll find some owed to a relative or a friend. This is what 100 year-old Hattie Miller’s niece found out after hearing about the existence of South Carolina unclaimed money in the State’s Unclaimed Property website. Converse Chellis, SC Treasurer personally delivered the check to what may be the oldest recipient of US unclaimed funds according to Fox Carolina News. Here’s part of an article on South Carolina unclaimed money written by a state unclaimed money expert:
As of October 2007, it was determined by the Office of the State Treasurer of SC that the state is currently holding $200 million that belongs to citizens who need only step forward and claim it, if they can find it. Despite increased efforts to reunite South Carolina unclaimed money with its rightful owners, which lead to a record return of $900,000 in Sept. 2007, the pile of cash continues to grow.
Each year, South Carolina, like most states, continues to take in more money than it’s able to return to the people. The primary problem is the fact that most people are completely unaware that these funds even exist, which is obvious, or they’d never have forgotten about them long enough for them to be considered “unclaimed”. Even those who have learned about the billions of dollars in unclaimed property all across the country usually don’t know how to go about finding them.
The national unclaimed money total has amassed $33 billion spread out among the various State Treasuries across the U.S. This just reflects the irony that a lot of people are so busy trying to make a living that they don’t realize they’re missing money and that much of it is in the government’s hands. Another recession is highly likely and Americans are going to need all the cash they can get. Read more about South Carolina unclaimed money.
Georgia Unclaimed Money- Almost $1B Owed To Residents
Most residents of GA State may not be aware about State unclaimed property. If they did, certainly the $684 million Georgia unclaimed property wouldn’t have ballooned to $900 million during the current fiscal year. As mandated by US law, the State collects idle financial assets from various businesses, insurance companies, banks and other financial establishments every year. Financial assets that have been abandoned and whose owners haven’t been located for a a few years are ‘escheated’ to the State as Georgia unclaimed property. Here’s part of an article on Georgia unclaimed money written by an unclaimed property expert:
Georgia’s Unclaimed Property Law or escheat law which originates from feudal laws in England require abandoned and forgotten assets such as bank accounts, income tax refunds, uncashed checks, uncollected wages, insurance premium overpayments, gift certificates, cash dividends on stocks and mineral deposits, and others to be turned-over to the hands of the state after a specified ‘dormancy period’. This period for Georgia is 5 years and less for other financial assets.”
Escheat laws were passed to protect citizens’ lost money- giving the State responsibility for the safekeeping of residents’ unclaimed money and property lest the financial entities holding them keep it for themselves. Some criticize that some States are seizing citizens’ unclaimed funds for the purpose of balancing their budgets. “When they are used the way they were intended, which is as a mechanism to help reunite property owners with their lost or abandoned property, then I think they’re a good thing,” says Atlanta lawyer John Coalson who specializes in Georgia unclaimed money. “When they’re used as a means for states to simply raise money, then I think states ought to call a tax ‘a tax’ and not just take people’s property.”
Whichever way the State uses citizens’ unclaimed property, there’s no question that more residents should check if they are owed part of the $900 million GA unclaimed money pie.
Atlanta resident and grade school teacher Sheila Sellers found out she had lost money in her name. She got a letter from the GA Department of Revenue informing her of a substantial amount of cash- $1700 from old stocks and a forgotten bank account from out of state. “Right in time for Christmas. I plan on being out the day after Thanksgiving,” said Sellers in a WGCL News report.
Other residents may want to check themselves too. Almost a billion dollars unclaimed money means good odds of coming up with something. All they have to do is go online to do a search for unclaimed money.
You Might Be Rich – Dateline NBC – MSNBC
It’s about time someone with some caliber gets the word out about unclaimed money.
By the way, unclaimed money, unclaimed property, missing money, unclaimed funds and similar terms are used interchangeably in regards to unclaimed money. essentially they are the same thing.
i digress…
Tiki Barber was featured on a Dateline special helping unsuspecting owners of unclaimed property get the money back into the rightful owners hands.
It was very entertaining and heart warming to see some of these people receive their funds.
Two lucky individuals received enormous amounts in funds they didn’t know they owned. It is enough to make anyone wonder if they too might have some money.
For a lifetime membership to find your money and anyone else you care to search for, see http://www.missingmoney.tv
These stories were truly inspiring and should give you every reason to search today. Not tomorrow, not the next day, right now? Why not?
With the $1 fifteen day challenge, you have very little to lose, and could have thousands in your pocket before the night is over. 
Find your missing money or money owed to those you love.
Over $5 billion California Unclaimed Money
Seeing as to how large the Golden State is and the large number of celebrities and busy high rollers doing business there, it’s actually not surprising that the California unclaimed money pile comes second to New York’s whopping $8 billion. What’s puzzling is the number of famous people owed cash from state unclaimed property. It’s not as if these people are difficult for the Unclaimed Property Division to locate. I mean who would have trouble trying to contact the whereabouts of ‘Brangelina’ (yes, both of them), Victoria (Posh Spice) Beckham, Keanu Reeves, J-Lo, Adam Sandler and other world-famous stars? Even State council board members are coming-up on the list of State unclaimed property. Southwestern College President Raj Chopra, county Supervisor Greg Cox, administrator of Scripps Mercy Hospital Chula Vista Pete Mabrey, Imperial Beach Councilman Fred McLean, Coronado Councilman Al Ovrom, and several other State public figures are apparently owed CA unclaimed funds form lost assets, according to a report in the San Diego Union Tribune.
New state laws have since been adopted replacing the ones that kept the California Unclaimed Property Division to aggressively locate and contact citizens owed unclaimed money in California. The amount reunited to owners after the new laws took effect at the end of 07 amounts to $284 million- a significant improvement. But a lot of people are still missing money out there. $1.2 billion are owed to Northern California residents and a whopping $300,000 to a Sacramento non-profit organization. The Golden State currently leads the country in the highest amount of unclaimed tax refunds at $40 million belonging to 500,000 Californians unfiled.
Everyone should take the initiative and do an unclaimed money search. Who knows? With the holidays coming, everyone needs extra cash for presents and extras. It’s not just in the Golden State either- all 50 states have significant amount of cash belonging to its residents who have lost track of their assets. Check-out this rss feed for other State unclaimed property articles from an unclaimed money expert.
