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Understanding Unclaimed Class Action Funds

In September of last year, it was announced that some residents of the state of Ohio were set to receive $9.5 million in unclaimed class action funds. The judge ruled in the residents’ favor, because Ohio had been doing something that other states had been doing for years; but just because other states are doing it doesn’t make it right. Let’s delve into what the state of Ohio was doing that was so bad in order to facilitate a better understanding of unclaimed class action funds.

 

Unclaimed Class Action Funds – You May Be Owed Money

Understanding unclaimed class action funds is crucial if you want to know how this money came to be. For the state of Ohio, unclaimed funds are not a new phenomenon. For years the state’s treasury has been on the receiving end of millions upon millions of checks that belong to residents of the great state. Instead of holding onto that money like the state is supposed to, Ohio invested the money into low-risk securities accounts and kept the profits. Since the unclaimed funds originally belonged to the residents, those individuals felt that they had a right to some of the investment earnings. So they sued, and won. Now, Ohio is forced to pay nearly ten million dollars, and it’s all called unclaimed class action funds.

Now that you you’re better understanding class action funds, you can check to see if you have any funds available by searching the Cash Unclaimed database. This database was instituted online for the sole purpose of relocating unclaimed funds to the rightful owners. If you have unclaimed class action funds in your name, Cash Unclaimed will find them. You will then be able to claim that money within a matter of days using the snail mail system or direct deposit.

Ohio isn’t the only state using unclaimed class action funds – it’s just one of the few that have been caught red-handed. Now that you are finally starting to fully understand unclaimed class action funds, you can see if you have any in your name using a first and last name and the Cash Unclaimed database. This database is so easy and provides a free initial search making it a great asset for everyone in this country to not only use but to check on a regular basis under their own names as well as under the names of close loved ones, friends and family members.

There is much money to be found and not a lot of time, as that money is only considered unclaimed for so long. Eventually it will be considered abandoned forever, in which case all the understanding of unclaimed class action funds in the world won’t yield you a dime.

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When you perform a free trial search on CashUnclaimed.com we display the total dollar amount in unclaimed funds that we show reported by the appropriate government agencies. This does not guarantee that this money is 100% absolutely yours. What it means is that there is that total dollar amount shown by government agencies under your name and common variations of your name at the last time we had the information available to us was reported as unclaimed and is able to have a claim form submitted to be paid that amount. For more information please read our terms of use by clicking the link above.