Colorado has proven satisfactory results in giving back unclaimed money to its citizens. The Department of Treasury of the Colorado state is satisfied that the results of Great Colorado Payback are very encouraging, and the state is hopeful of emptying its coffers of the unclaimed cash that legally belongs to the citizens.
State Treasurer Cary Kennedy recently announced that the state paid claims totaling over $500,000 to a single claimant in Fort Collins. It was one of the 20 claims valued between $40,000 and $1,000,000 during the last fiscal year. This year the department had eight claims that were worth more than $100,000. However, an average claim is about $100.
The Great Colorado Payback returned over $25,000,000 to the claimants this fiscal year mostly resulting from stocks, trusts, and payments to heirs. The state is making people realize that the unclaimed cash is a good source of extra income during these financially tough times.
Diligent Efforts by the Treasurer
Since coming to office in 2007, Colorado State Treasurer Cary Kennedy has simplified and streamlined the process for claiming unclaimed property and has actively promoted the program. She was the force behind the legislation last year making it easier for consumers to keep the value of gift cards and prevent the gift cards from becoming unclaimed property.
Earlier this year, Colorado Treasury’s Division of Unclaimed Property was featured on the PBS hit, Antiques Roadshow. Colorado’s unclaimed property program is the only one in the country to receive such recognition.
The Great Colorado Payback currently holds over $500 million belonging to over 1.5 million owners. Kennedy is encouraging people to visit her official website or to call 303-866-6070 or 800-825-2111 to see whether their name is in the Great Colorado Payback database. Coloradans can also utilize The Great Colorado Payback Hours from 8am to 5pm on weekdays.
The good results of The Great Colorado Payback would not have been possible without the citizens’ encouraging response. Such huge amount of unclaimed property is lying in every American state and people are requested to log on to www.cashunclaimed.com to search for any forgotten cash or property in their name.