Unclaimed Property Blog

The unmanageable influx of unclaimed funds has increased to an alarming level in both the state treasuries as well as the Federal reservoir. With a large volume of U.S residents traveling to other states and countries, and the volume of foreign and inter-state workers increasing rapidly, the unclaimed money pile is expected to grow further.

By all estimates, the unclaimed money pile is expected to grow at a much higher rate in the coming months and years. NAUPA is providing all the possible assistance to state treasuries to minimize the pile of unclaimed funds by creating practical outreach programs that create awareness and inquiries about the unclaimed funds and the process of claim.

Unclaimed money in America has now touched almost all of the American households. In most of the American extended family, there is at least one person who has not staked a claim to their rightfully earned money. The reason is mainly because most Americans are completely unaware there is unclaimed money that belongs to them, which is unfortunate due to the increasing volume of it.

Every state and household is contributing to the unclaimed money pile in a big way. In almost nine out ten American extended families, there is at least one person who has missed out on their hard earned money. New batches of unclaimed funds are added at a rapid pace, swelling the unclaimed money databases to an alarming level.

Aside from other states, like California and New York have an unclaimed money vault of almost $16 billion. Other states are also not far behind, and have reported unclaimed funds addition to their treasuries at a furious pace. In addition to the states, public utility companies and financial institutions like banks and insurance companies, are disclosing large volumes of unclaimed bank balances waiting to be claimed.

The unclaimed money amount is major cause of concern for the state treasuries. With the number of inquiries for the lost funds not very encouraging, state governments across the nation are leaving no stone unturned to locate the rightful owners of the lost funds. Every state is facing the similar dilemma of increasing pile of unclaimed funds and very few reclaim inquiries in contrast.

The pile of unclaimed funds is growing at a scorching rate. The number of people who are coming forward to claim these abandoned funds is very low. This deficit is growing bigger every day, leading to a major logistical nightmare for state and federal agencies.

In response to this epidemic, State and Federal governments have taken concerted efforts to simplify the process of search and claim. The current outreach program is created with an aim to reach as many residents as possible and to create awareness about the unclaimed funds. One of the reassuring facts about this is that every unclaimed penny is safe and secure with the government.

The unclaimed property pile is growing at an alarming rate across all the state treasuries. This is creating a major concern for everyone involved in the management of this missing money. Every official and agency related to the disbursement and management of unclaimed funds are trying their best to locate the rightful owners and also spread the awareness about unclaimed funds.

In contrast to the earlier days, a large volume of relevant information is available to the potential owners of these unclaimed funds. Both the state and federal government have to be applauded for their efforts in reuniting the owners of these missing monies with the lost property. A lot of emphasis has been given to the availability of relevant information and also on the simplification of the process of claim.

It is a well known fact in the government that the pile of unclaimed funds is a major source of headache for the decision making officials. State and Federal governments have taken all the right steps in creating a viable and effective outreach program to spread the awareness about the unclaimed funds. The fact that all the lost property from over the years is safe with the government is a great relief for most of the residents who are aware of the fact that they have an unclaimed fund lying somewhere.

Finding unclaimed money has been simplified over the years. Most of the Americans firmly believe that recovering any funds that now lies with either the state or the central government is next to impossible. Nothing can be further from truth. Most of the local, state and federal government agencies are waiting for your inquiry so that you can get back your hard earned money in quick time.

Unclaimed money can serve as an extra source of income to many peoples’ wallete. Successful money management is not achieved by a magical wand, but rather by a consistent and practical planning. One of the first steps towards this financial freedom is to learn to live within ones means. With life moving in the fast lane and where instant gratification is the norm, most of our expenses are directed towards desires rather than actual needs.

Many have hit the jackpot by claiming back their unclaimed money. Much to the surprise of everybody, every year thousands of people benefit by way of claiming back their lost money or even lost lottery jackpots. Unclaimed money amounts can vary from hundreds to millions of dollars. In addition, unclaimed lottery winnings are also on the rise and it merits a mention that some hefty jackpots have also been claimed in the last couple of years.