$58 Billion Unclaimed: Is Some of it Yours?

[TangoJuliet]

Millions of Americans are missing out on billions in forgotten cash.

Currently, states, federal agencies and other organizations collectively hold more than $58 billion in unclaimed cash and benefits. That's roughly $186 for every U.S. resident. The unclaimed property comes from a variety of sources, including abandoned bank accounts and stock holdings, unclaimed life insurance payouts and forgotten pension benefits.

http://finance.yahoo.com/news/-58-billion-unclaimed--is-some-of-it-yours--202441269.html

So I just got done reading the article and did a search and found that my grandfather had an account with MetLife and there was some money in it.

Has anyone ever filed a claim like this and was able to retrieve lost monies?

 

[SKORPI0]

Got a letter a few months ago for an unclaimed amount of $100 from best buy under my name. Had to file a claim to get it. Not sure why lm supposed to get it. Could be remaining paycheck after all this year's. I:confused

Once in a while the Chicago Tribune prints a special section for unclaimed money.

 

[TangoJuliet]

Got a letter a few months ago for an unclaimed amount of $100 from best buy under my name. Had to file a claim to get it. Not sure why lm supposed to get it. Could be remaining paycheck after all this year's. I:confused

Once in a while the Chicago Tribune prints a special section for unclaimed money.

I worked at BBY back in the day too and there was a class action law suit. I don't remember exactly but I think it had to do with OT or something.

 

[GTaudiophile]

Give it back to the 47% of those who pay federal income tax in the form of a rebate. It's not forgotten. It's not free. And it belongs to those who earned it.

 

[darkxshade]

Let me do this country a solid and claim all 58B to get it off the books quick and efficiently.

 

[T9D]

Cool my brothers have a few hundred owed to them in California. And my dad a little too.

 

[Uppsala9496]

Found my parents on the IL list for unclaimed property. Some share dividends. Those are from an address we haven't lived at for about 30 years. Will have to make sure I get them to complete the forms today.

Thanks for the thread.

 

[Jeffg010]

Funny how www.treasuryhunt.gov servers are over loaded.

 

[OBLAMA2009]

its worth checking out. about 20 years ago, someone called my father and told him there was $10,000 being held by the state of california for him. the guy asked for a percentage to help him get it. he agreed and got the money. to this day he has no reason why it was owed him, he thought maybe it was a bank account that he forgot about and was closed by the bank and the funds turned over to the state.

so there are people who make money connecting people with funds they are owed as well

 

[CPA]

Do it all the time.

In fact, part of my job at my company is managing our unclaimed property - both filing and collecting.

For Delaware (I mention them because they have the largest percentage of incorporations and they are very aggressive in collections from companies) Unclaimed Property represents the second largest source of revenue. Yes, they have to return it to you if you claim it, but Delaware laws do no prohibit the state from using the money for budget purposes until such time the money is collected. Think of it as how the Feds use Social Security reserves.

 

[CPA]

its worth checking out. about 20 years ago, someone called my father and told him there was $10,000 being held by the state of california for him. the guy asked for a percentage to help him get it. he agreed and got the money. to this day he has no reason why it was owed him, he thought maybe it was a bank account that he forgot about and was closed by the bank and the funds turned over to the state.

so there are people who make money connecting people with funds they are owed as well

There are many "collectors" out there. Most charge between 10-30% of the balance as their finder's fee. States regulate the fees that can be charged. Most of these guys aren't doing anything that you couldn't do using the state website or missingmoney.com.

Most states require companies and holders to file when due. However, most states don't require state departments (like those that hold warrants or cash bonds) to file unclaimed property with the state revenue department. Those funds are harder to find and may be worth the paying of a fee.

 

[Apple Of Sodom]

I went to missingmoney.com and looked up my name. I had a check sitting at a bank from about 10 years ago. I'm not sure what it was for but it is being sent my way. It was only $38...but I'll take "free" money any day. I'm actually more anxious to find out what it was for than the amount. Totally worth the 2 minutes I spent searching and claiming it.

 

[T_Yamamoto]

I went to missingmoney.com and looked up my name. I had a check sitting at a bank from about 10 years ago. I'm not sure what it was for but it is being sent my way. It was only $38...but I'll take "free" money any day. I'm actually more anxious to find out what it was for than the amount. Totally worth the 2 minutes I spent searching and claiming it.

None on me

 

[Paladin3]

"It's my money and I need it NOW!"

My parents: $46 each, plus one claim each for 10 cents that I don't think we will bother with, hehe.
My son: $56
Me: $66

 

[T9D]

Wow don't use missingmoney.com. I just checked on there and none of my family showed. Even though on the government one I found like 20 instances of my family being owed money.

Go straight to this one: http://unclaimed.org

 

[sunzt]

holy crap, it found something from 2004..... some rebate or something from "Best Buy Co Inc & Subs"

I thought i'd never find anything....

cha ching! Score!

 

[vshah]

found some wages from my campus job that I never picked up?
filling out the forms now....thanks OP!

 

[Fingolfin269]

Nice found about $70 for me.

 

[ViviTheMage]

found some for my sister!

 

[TangoJuliet]

hey since I posted this thread shouldn't I be getting a finders fee??

 

[jagec]

I got an old Western Digital rebate for "$50-100".

I hope that it's the bigger number!

Or maybe it's 50 MINUS 100, and I owe them $50.D:

 

[Red Squirrel]

I say they should just put the money towards the national debt. Sounds kind of selfish but that would be pretty minor compared to other stuff that goes on.

Then again, that would be a drop in the bucket, so maybe just spread it out to tax payers.

 

[OBLAMA2009]

holy crap. i just typed my fathers name and hes got two: $2300 from morgan stanley and $645 from metlife. they have his old address on file though. if havent filled the form out since i need to get his social security # but does anyone know if the form has a way to deal with that? also what are the "required documents", other than the Claim Form?

i am not owed anything

 

[Craig234]

hey since I posted this thread shouldn't I be getting a finders fee??

You did.

But you have to find it to claim it.

 

[Craig234]

I say they should just put the money towards the national debt. Sounds kind of selfish but that would be pretty minor compared to other stuff that goes on.

Then again, that would be a drop in the bucket, so maybe just spread it out to tax payers.

When we do pay down the debt more - as the economy recovers - the payments should come more from those who have shifted economic wealth to themselves, the top 1%.

Most Americans have gone down in wealth for the first time in recent decades while the most wealthy have gone up hundreds of percent. They took it, they can pay it.