Unclaimed Property Blog

Uncashed paychecks are one of the main contributors to the billions of unclaimed cash lying with the state treasurers of the U.S. In spite of relentless efforts by the state governments to return the cash to the rightful owners, the amount is staggering more and more by every passing day. It has reached over $32 billion recently with no signs of receding.

How Paychecks Go Uncashed?

It’s interesting to note how paychecks end up remaining uncashed. One Minnesota citizen found a $700 paycheck lying in his old books. He discovered it after one and a half years while he was dusting off the books.

“Lost cash? Me? ... Never!” may be your reaction if suggested to search for any lost cash lying unclaimed in your name. However, the brief online search may prove otherwise, as almost every American has at least one form of unclaimed cash or property lying on his/her name.

Most of the Americans have forgotten small amounts incurred to them from closed bank accounts, dividend pay-offs, insurance claims, tax refunds, utility deposits, oil royalties, wages, etc., which they did not bother to collect. The unclaimed cash ranging from a few dollars to a few millions is dormant in the custody of various state treasurers. In spite of the states’ rigorous efforts, there are still many citizens who are not aware of how to recover the lost cash.

$35 billion of unclaimed money isn’t a small amount. Many economies would be willing to have this amount at their disposal. Surprisingly, this huge cache is lying dormant with U.S. in the form of unclaimed cash.

In spite of the relentless efforts by U.S. State Treasurer, less numbers of people are turning up to claim unclaimed cash in their name. Though, the number is on the rise owing to a massive drive taken up by the states, the heap of unclaimed cash is reducing at much less speed than expected.

Should any unclaimed money go to releaving the state’s budget deficit? Most of the U.S. states are caught in a peculiar situation in which there is unmanageable budget deficit on one hand, and hoards of unclaimed cash on the other. This has set the brain-storming among the U.S. think tank. They advocate that these unclaimed funds can be effectively utilized to fill in the budgetary void.

In spite of the relentless efforts by the authorities, claimants are not coming forward in expected numbers to fetch unclaimed cash in their names; it is likely to remain dormant for long. It will make good economic sense to not let it idle till the claimants come forward.

The very thought of searching for an easy, quick way to come up with more cash can be daunting. There are a ton of scams and cheats out there with their traps who will do nothing but take your money and run, leaving you in worse financial ruin than where you’ve started. But the fact is that, you’ve just been looking in the wrong place all this time.

Free Unclaimed Money Search

Unclaimed property is owed to millions of people. Financial experts estimate that up to 90% of Americans have unclaimed property that is being held by various government agencies and banks across the U.S. This property could be tangible or intangible. It could be something that was stolen, or reported lost, or it could be something that was left to you by an heir. The property could be money as well, sitting in a bank account, year after year.

To find unclaimed property you need to know where to look for it. It could either be with the Treasury or other designated department of a state or with a federal agency like the IRS, HUD, FIDC etc. Nearly all states and federal agencies have websites with search options to help people find unclaimed property. While the search procedure may vary depending on the state or agency, in general the process of accessing the databases to see if you can find unclaimed property that belongs to you is fairly simple as long you follow these steps:

CashUnclaimed.com Provides Helpful Service

HUNTINGTON BEACH, CA, AUGUST 4, 2008 — As Americans tighten their budgets and the economy shrinks, now is the time for consumers to seek out any missing money they may be eligible to collect. CashUnclaimed, a Web-based service provider, assists individuals looking for unclaimed funds through its easy to use online database.

According to CashUnclaimed representative Nicole Anderson, missing money comes in many forms ranging from un-cashed checks, dividends, securities to forgotten banking accounts.

“The possibilities are endless. We advise our clients to check for missing property on a regular basis,” Anderson said. “There could literally be hundreds if not thousands of dollars waiting to be claimed.

In USA alone, there are billions of unclaimed dollars waiting for its owners. So if you are a person looking for your unclaimed cash, there are many databases available on the Internet to help you to find your unclaimed cash. There are more then 62+ data bases in USA alone to help you with your searching. So it is a tedious task for you to find your unclaimed cash from using these directories. But remembering a few tips suggested below will help you to find out your unclaimed cash easily.

Unclaimed property is a familiar term for a US citizen. But do you know what is the actual concept underlying in this term?

A property is declared as unclaimed property if the owner of the property neglects his assets or the owner of the property discontinue all his contacts with the company or institution or individual currently using the property, and the company or institution or the individual using the property can not communicate with the owner of the property because of various reasons such as change of phone number or address.