In May 2007, IL State Treasurer State Treasurer Alexi Giannoulias stated that the state’s “Cash Dash” abandoned asset program currently holds nearly 1.4 Billion dollars in Illinois unclaimed money. The only thing getting between the cash and its true owners is the knowledge that it’s out there and the knowledge to locate it.
Sadly beyond just IL, state treasury departments across the country keep on taking in more unclaimed money every year than they hand back to the citizens. Because everyone believes in the old “if it’s too good to be true” saying, the majority of people refuse to believe that there are really tens of billions of dollars waiting to be claimed across the country. Even for those few who have realized the truth about unclaimed cash, the best way to track these monies down eludes them in most cases.
The Prairie is State is one of those rare states that holds over 1 billion dollars on its own, which means if you are a resident of IL then you have even better odds of tracking down a claim in your name, especially after you factor in that the state has less than 13 million people and there are more than 10 million names on the state’s IL list.
Although there are many more, IL lists the following as the most common sources of forgotten funds: unpaid wages or commissions, abandoned savings and checking accounts, bonds, stock, un-cashed dividends, mutual funds, credit balances, customer deposits or overpayments, safe deposit box contents, money orders, refunds, paid-up life insurance policies, travelers checks. People who have had or know someone who might have had one of these accounts at some point in the past is encouraged to search regularly.
The IL State Treasury has returned over $432 million since it took over the unclaimed money program in 1999, 84 million dollars of which was given back in 2006 alone, but with 1.4 Billion dollars waiting to be claimed and more coming in every year, the heap of cash will keep on growing.
Because money is always being added to the fund, it’s very important to search regularly, not just once. Money belonging to you might be added tomorrow, or next week, or next month, or depending on the type of property in five years if that’s the proper dormancy period. Each type of property has its own dormancy period in each state, after which state laws require the holder to hand it over to the state who will then hold on to it until the true owner comes forward to claim it.
Further, residents of IL might be owed unclaimed money in other states even if they have never resided in or even set foot in them. Items like insurance overpayments when an employer uses an out of state insurance company can result in found money located in other states. Issues often also arise when corporations’ headquarters are in another state.
The bottom line is that the state of IL is currently home to a massive amount of money that is owed to its residents who just need to learn the proper ways to search, where to search, and how often to search. Learning these search tips from locators with years of experience in this field can give you a boost in your abilities to locate your money.
[TAGS]unclaimed money in il, unclaimed money in illinois, il, il found money, il lost money, il missing money, il unclaimed, il unclaimed assets, il unclaimed cash, il unclaimed funds, il unclaimed money, il unclaimed money search, il unclaimed property, il unclaimedmoney, illinois, illinois found money, illinois lost money, illinois missing money, illinois unclaimed, illinois unclaimed assets, illinois unclaimed cash, illinois unclaimed funds, illinois unclaimed money, illinois unclaimed money search, illinois unclaimed property, illinois unclaimedmoney, illinois unclaimedproperty, illinoisunclaimedmoney, ilunclaimedmoney[/TAGS]
-
Kansas Treasurer Dennis McKinney plans visits to reunite people with unclaimed money - fox4kc.com
TOPEKA, Kan. (AP) — An Overland Park resident is about $79,000 richer after getting a visit from Kansas Treasurer Dennis McKinney. The treasurer’s office had spent five weeks trying to track down Gail Brown, who was owed money from a parent’s retirement account. McKinney says, “It’s not always
Georgia holds millions in unclaimed money - Chattanooga Times Free Press
ATLANTA — The state of Georgia is holding on to nearly $985 million that rightfully belongs to state departments and taxpayers, according to the Georgia Department of Revenue. ”In these tough economic times, Georgians cannot afford to just let …
Treasurer delivers unclaimed check - Topeka Capital-Journal
Overland Park resident Gail Brown got a visit from Santa Claus on Friday. Well, actually it was state Treasurer Dennis McKinney. But he came bearing a gift. Specifically, a check for $78,666. It was unclaimed property from Brown’s mother’s retirement …
Federal Money to Help People on Welfare Get Jobs Goes Unclaimed - GPB
ATLANTA — Congress has set aside billions of dollars to help states find jobs for people on welfare, but most states including Georgia haven’t claimed their share. Many states don’t touch federal money intended to help welfare recipients get jobs …
Kansas Treasurer Dennis McKinney plans visits to reunite people with … - fox4kc.com
TOPEKA, Kan. (AP) — An Overland Park resident is about $79,000 richer after getting a visit from Kansas Treasurer Dennis McKinney. The treasurer’s office had spent five weeks trying to track down Gail Brown, who was owed money from a parent’s …
UNCLAIMED MONEY: Locals owed over $500,000 - Ballarat Courier
THE STATE Revenue Office wants to reunite Ballarat residents with more than $500,000 in unclaimed money. According to Commissioner of State Revenue Paul Broderick, within the city of Ballarat there are currently 10,000 claims worth over $500,000 …
Do you have any unclaimed money? - heartland connection.com
KIRKSVILLE, MO — Treasurer Clint Zweifel was in Kirksville on Saturday marketing the Missouri House Democrats “Road to the Majority Tour” in northeast Missouri. Zweifel said Missouri has a strong field of democrats running in 2010 who …
Bank Goes Extra Mile To Keep Cash In Client’s Hands (Hartford Business Journal)
Bank account holders beware: If it’s been three years since your last transaction, one local bank is warning that your money will soon be turned over to the state.
Do you have any unclaimed money? (KTVO Kirksville)
As of January 2010, the Missouri Sate Treasure’s office was holding more than $600 million in unclaimed assets.
Entries (RSS)