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Unclaimed Money Vault Hits All-Time High

November 23rd, 2010

The unclaimed money count continues to climb relentlessly in spite of all the great efforts of state and federal agencies. A whooping $40 billion is lying in the different state treasuries around the country and that translates to roughly 117 million accounts which are still untraced. These unclaimed money pools are lying in the various state treasuries.

As part of the reclaim drive, federal and state governments are assisting people in finding the forgotten cash or property that is legally theirs. In reality, every U.S. state, District of Columbia, Puerto Rico, the Virgin Islands have unclaimed property programs that actively find owners of lost and forgotten assets.

Unclaimed Funds Remain in State Treasury 

November 17th, 2010

Most of the State treasuries are at a loss as to how to handle the growing pile of unclaimed funds. This surplus of unclaimed money in the state treasuries is getting bigger with each passing day. Major states like California and New York have reported huge amounts of unclaimed funds: $5.7 Billion and $9.9 billion respectively. Although this is great news for states in this times of economic slump, the resources and logistics required to handle the increasing surplus is also required.

Tips for Recovering Unclaimed Money

November 17th, 2010

With millions in unclaimed money being registered every day in the country, owners of these funds, along with the caretakers of unclaimed money, are equally at loss. These huge piles of unclaimed monies are lying somewhere in the state treasuries. Despite the federal and state agencies efforts to unite the owners of these unclaimed funds with their rightful money, the progress has been slow.

States House Millions in Unclaimed Money

November 9th, 2010

State governments are having a huge reserve of unclaimed public money, despite the efforts to bolster its economy in this era of one of the largest economic slump. Most of the states have expressed their conerns with this influx of unclaimed funds into their treasuries. The ratio of incoming funds to the funds which are being claimed is still very high. Millions of dollars of unaccounted money is held in state treasuries with no possible outlet in sight.

At the moment, more than $40 billion dollars of unclaimed money and assets are waiting to be returned to their rightful owners. Statistically, more than 30 million American are missing out on their hard earned money which is still lying with the state treasuries.

Find Unclaimed Cash Listings in Local Newspapers

October 25th, 2010

Almost $35 billion of unclaimed cash is lying in the state treasuries around the country. The state machinery is trying its best to disburse this unclaimed money to the rightful owners or heirs of these owners (in case they are deceased). Various programs, both in the electronic and digital media, have been initiated throughout the country to spread the awareness about the unclaimed cash and property. Print media has the deepest circulation and reaches the most remote corners of the country. Popular and most widely circulated newspapers are being utilized to advertise the unclaimed cash list.

Recovering Unclaimed Funds Now Easier

October 18th, 2010

State and Federal governments have to be commended for preserving unclaimed funds in a very methodical manner for years. That is very encouraging for U.S. residents irrespective of their age or place of residence – now they know that the government machinery is there to help in their efforts to search for the missing money.

In collaboration with federal agencies and other local agencies, State governments have taken concrete steps to ensure that the residents go through a very simple process for locating and claiming their missing money. As an individual who is in need of some help for locating their missing money, the following facts have to be understood:

California’s Unclaimed Property Still Rising

October 13th, 2010

State of California is inundated with its growing pile of unclaimed funds with almost 11.6 million individuals still unaware of their unclaimed cash or property. In responseto this unmanageable situation, the state of California has enacted Unclaimed Property Law that requires property holders such as corporations, business associations, financial institutions and insurance companies to annually report and return dormant property to the State Controller’s Office. By a rough estimate, about $600 million are collected by the California state unclaimed funds division annually.

Unclaimed Cash Remains a Concern for U.S. States

October 4th, 2010

It’s not a small amount; almost $35 billion of unclaimed cash is waiting to be claimed by American citizens across various states. While the influx of unclaimed money is unabated, the actual reimbursement of this unaccounted money is not taking place at a satisfactory pace. The turnover over of unclaimed cash is hindered by so many factors, mainly the lack of awareness in the state residents. There is widespread concern among the decision makers in the treasury departments of the various states regarding the unclaimed pile of money which is growing rapidly on a daily basis.

States House Millions in Unclaimed Money

September 29th, 2010

The large amount of unclaimed money is turing out to be a logistic nightmare for the states: trying to manage and store increasing pile of unclaimed money, while on the one hand they are fighting the economic slowdown with all their might.

It is estimated that at any point of time, State governments are storing more than $40 billion dollars in unclaimed money and assets. It can be said that about 30 million Americans are believed to have unclaimed money lying somewhere in the state coffers. Some of the most pertinent questions that are frequently asked are:

    Lost Money Still on the Rise

    September 9th, 2010

    Lost money from U.S. Citizens has become an increasing issue among the government. Federal and State agencies are unanimous in their view that the U.S. unclaimed or lost money is on rise with each passing day. States like California and New York have been puttin forth all efforts to give back the large amount of unclaimed money lying in their treasuries.

    While California is reporting unclaimed money to the tune of $5.7 Billion, New York’s pile of unclaimed money has swelled up to $9.9 billion. That’s such great financial news for U.S. residents in this bleak economy. As the States are taking new measures to disburse unclaimed funds to the owners, new money is still being added at a frantic pace.


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