Money comes and it goes just the same. Are you unsure if you have unclaimed money from bank accounts, insurance policies and the like? Well, time is running out, to claim your money that is.
The Perfect Match
If you are in need of extra cash, try searching right in your very own backyard, literally, because money may just be sitting there waiting for you to collect it.
What many do not know is: When money is not claimed, it gets held by the state until someone does in fact search for it. However, as many states become even more on the verge of a budget crises, they sometimes will just use your cash to cover expenses, if money sits unclaimed for extended periods of time. You may be shocked to know that there is an estimated $60 billion floating around out there in unclaimed money, according to Money magazine.
Checking the ‘Lost and Found’
It may be worth your while to see if you have unclaimed cash. If the government owes you money and you do not collect it, then it’s unclaimed. There may be a bit of confusion as to where this money can come from. Cash may be owed to you from credit unions, banks, pensions and other sources, too.
The government is known for many things, nonetheless having a convenient way to claim lost cash is not one of them. What does this mean? Sorry! The government currently does not have one cohesive Web site for finding unclaimed money by Social Security number, name or by state. To constantly remain in-the-know, you’ll just have to do your homework by checking the following sites.
States’ Unclaimed Money:
- Search by State – Search your state’s listing of unclaimed funds and property;
Retirement:
- Pensions from Former Employers – Search for unclaimed pension money from companies that went out of business or ended a defined plan;
Taxes:
- Tax Refunds – The IRS may owe you money if your refund was unclaimed or undelivered;
- Check the Status of Your Federal Tax Refund – If you filed a federal tax return and expect a refund, you can check the status online;
Banking, Investments and Currency:
- Bank Failures – Search the Federal Deposit Insurance Corporation (FDIC) for unclaimed funds from failed financial institutions;
- Credit Union Failures – Find unclaimed deposits from credit unions;
- SEC Claims Funds – The Securities and Exchange Commission (SEC) lists enforcement cases where a company or person owes investors money;
- Damaged Money – The Treasury Department will exchange mutilated or damaged U.S. currency;
Mortgages:
- FHA-Insurance Refunds – If you had an FHA-insured mortgage, you may be eligible for a refund from the Department of Housing and Urban Development (HUD);
Savings Bonds:
- Search for Savings Bonds That Stopped Earning Interest – Treasury Hunt allows you to search for bonds issued since 1974 that have matured and are no longer earning interest;
- Calculate the Value – Find the value of your paper savings bond;
- Replace a Savings Bond – Replace lost, stolen, or destroyed paper savings bonds;
International:
- Foreign Claims – U.S. nationals can find money owed to them from foreign governments after loss of property.
For your Convenience
There are also alternative ways to claim your money; just go to MissingMoney.com or Unclaimed.org, to do a database search of available unclaimed funds across all 50 states. One downside to this option is not every state participates in this.
Making Haste, Not Waste
We all know there are people who set out to prey on the ignorance of others, therefore it should come as no surprise that there are individuals who partake in unclaimed money scams. What are these scams? In short, there are people who pretend to be the government and offer to send you unclaimed money for a fee. But, beware because government agencies will not contact you at all about unclaimed money or assets, even; it’s your sole responsibility to recover any monies or property.
An Unexpected Advance
You can check as frequently as you see fit to research if you have unclaimed funds. After all, you have way more to gain than lose. In a matter of seconds you may just increase your wallet size.
Web Links:
http://www.usa.gov/Citizen/Topics/Government-Unclaimed-Money.shtml
-Kimberly Williams
KWLMS 