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Archive for July, 2010

States Are Experiencing Small Turnover of Unclaimed Money

Monday, July 19th, 2010

Unclaimed money has become a major concern for many U.S. States. U.S. state governments are perplexed over the situation, in spite of the aggressive efforts taken up by the states to spread awareness, inform owners and return unclaimed cash to the citizens, the turnover of unclaimed money is smaller than expected.

Various states have launched variety of programs, hunts, campaigns, road runs, etc., to reach out to the owners and return the money; however, the amount of money returned to the owners form a very small part of $32 billion of unclaimed money.

Unclaimed Money Remains Constant

Newspapers Are Now Posting Lists for Unclaimed Funds

Wednesday, July 14th, 2010

U.S. states are trying their best to return $32 billion of unclaimed cash to the Americans who are the rightful owners of the cash. States are finding every possible avenue, like sending personal memos, arranging outreach events, carrying out TV broadcasts, etc., to reach out to every citizen.

In order to spread awareness about unclaimed cash at grass root level, states have sought refuge of newspapers as well. Newspapers have a very deep penetration and they are available to almost every citizen across the states.

Initiatives by the States

Strike the Jackpot with Unclaimed Lottery Wins

Tuesday, July 13th, 2010

Unclaimed lottery jackpots have been contributing to the large amounts of unclaimed money lying with the states. People buy lottery tickets in order to create a chance to win huge lump sum of money; and then when they win prizes, they go missing.

Florida’s largest unclaimed ticket expired after 180-day deadline with no one coming forward with the ticket to claim an estimated $53.7 million prize. Indiana lottery’s unclaimed $2.5 million jackpot was finally claimed after six months. Illinois lottery’s $20 million Mega Million jackpot winner has not yet come forward.

The States Are at Work to Return Unclaimed Money 

Thursday, July 8th, 2010

Returning unclaimed money has been a recent concern for most U.S. State treasuries. All the state treasurer offices in U.S. are busy these days in not only doing their core tasks but also caretaking and returning of $32.877 billion of U.S. unclaimed money.

Unclaimed money has resulted from dormant savings accounts, idle stocks, uncashed dividends or payroll checks, forgotten traveler’s checks and trust distributions, unredeemed money orders or gift certificates, unclaimed insurance payments or refunds of life insurance policies, lost certificates of deposit, uncollected utility security deposits and unclaimed lottery jackpots.

Relentless Efforts by the States

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