The
government in Alabama right now has $373 million in
unclaimed money and some of that might belong to
you! That's right. Unclaimed money and property come can come from different
sources- forgotten bank accounts, uncashed checks, unused gift certificates and
such. After a certain period of time, these lost assets are are required by law
to be turned-over to government until their rightful owners come to claim them.
In 2007, a record $23 million was returned by the
Alabama unclaimed money office.
The large amount of unclaimed funds returned can be credited to the state's
programs which try to increase public awareness about the
unclaimed property. Lists of people's
names are posted in public and special booths are set-up in areas like state
fairs and shopping malls which provide free search aid to possible owners of
unclaimed property.
According to experts,
70% of Americans are owed unclaimed property
by the U.S. Government and there is nearly $40 in unclaimed property.
-
more…
June 28th, 2008
Posted by
admin |
Unclaimed Money |
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California
Good news for Californians! Over $400 million are ordered by a judge to be paid
to the owners of
unclaimed money which was in the hands of the California
Treasury Department. According to a news report
in San Francisco Chronicle, ?The ruling is the second major blow to the state
this year over how it has handled more than $5 billion in the unclaimed property
account - enough money to cover the cost of the California's 109-campus
community college system.?
The U.S. Government is holding-on to an estimated amount in the neighborhood of
$40 billion in unclaimed assets.
Imagine how much interest that generates per year! Yup, hundreds of millions. In
the Golden State alone, there is around $5 billion in unclaimed money and there
were reportedly instances where the state failed to include the interest on
successfully returned assets. This adds to the negative rulings plaguing the
unclaimed property division of the state's Treasury
Department. A federal court earlier this year
found that the state failed to notify some owners of lost assets properly before
seizing them. This resulted in a federal court ordering a cease in the seizure
of
unclaimed property by the state
until new laws were passed ensuring proper attempts to notify the owners of
such. The ban was lifted just recently.
-
Alexi Giannoulias - Illinois State Treasurer
June 24th, 2008
Posted by
admin |
Unclaimed Money |
no comments
California
Good news for Californians! Over $400 million are ordered by a judge to be paid
to the owners of
unclaimed money which was in the hands of the California
Treasury Department. According to a news report
in San Francisco Chronicle, ?The ruling is the second major blow to the state
this year over how it has handled more than $5 billion in the unclaimed property
account - enough money to cover the cost of the California's 109-campus
community college system.?
The U.S. Government is holding-on to an estimated amount in the neighborhood of
$40 billion in unclaimed assets.
Imagine how much interest that generates per year! Yup, hundreds of millions. In
the Golden State alone, there is around $5 billion in unclaimed money and there
were reportedly instances where the state failed to include the interest on
successfully returned assets. This adds to the negative rulings plaguing the
unclaimed property division of the state's Treasury
Department. A federal court earlier this year
found that the state failed to notify some owners of lost assets properly before
seizing them. This resulted in a federal court ordering a cease in the seizure
of
unclaimed property by the state
until new laws were passed ensuring proper attempts to notify the owners of
such. The ban was lifted just recently.
-
Connecticut State Treasury Unclaimed Property Owners List
June 17th, 2008
Posted by
admin |
Unclaimed Money |
no comments
The
government in Alabama right now has $373 million in
unclaimed money and some of that might belong to
you! That's right. Unclaimed money and property come can come from different
sources- forgotten bank accounts, uncashed checks, unused gift certificates and
such. After a certain period of time, these lost assets are are required by law
to be turned-over to government until their rightful owners come to claim them.
In 2007, a record $23 million was returned by the
Alabama unclaimed money office.
The large amount of unclaimed funds returned can be credited to the state's
programs which try to increase public awareness about the
unclaimed property. Lists of people's
names are posted in public and special booths are set-up in areas like state
fairs and shopping malls which provide free search aid to possible owners of
unclaimed property.
According to experts,
70% of Americans are owed unclaimed property
by the U.S. Government and there is nearly $40 in unclaimed property.
-
more…
June 3rd, 2008
Posted by
admin |
Unclaimed Money |
no comments
