Another year has come and gone and US Treasurers are still clueless as to how to manage and eradicate the unclaimed funds problem. With all the attention the problem has been getting lately, analysts thought that we would have returned all of the money currently in holding to the rightful owners by now. Yet money still sits unclaimed in Treasury vaults in nearly every state and money continues to roll in month after month. That means that more drastic action will need to be taken if we hope to rid the country of unclaimed funds in 2014. Here are the steps you can expect Treasurers to take as we ring in the New Year.
More Public Information Initiatives
You can expect unclaimed funds in 2014 to be prominently mentioned in the national media. News pundits will likely talk about how much money is out there – we’re talking billions of dollars – as well as how to recoup any money that may be owed to average Americans just like you.
Easier Ways of Collecting the Money
Treasurers can only return money that has been actively searched for and found by the rightful owners. This is why sites like Cash Unclaimed have proliferated in recent years. Cash Unclaimed makes it easy for anyone to search for unclaimed funds in 2014 with a simple name and email address. Searchers can find out who owes them money and how much is owed, as well as how to collect the money with a few easy-to-follow steps.
The US economy is in recovery mode and that recovery would be drastically improved if we could return the billions of dollars in unclaimed funds to the hardworking Americans those funds actually belong to. With more public information initiatives and easier ways of collecting funds, we should see a significant reduction in the amount of cash in holding; and we may even see a complete eradication of the problem in our time. The success of this and any other unclaimed funds programs will always rely on the people being owed the money. So conduct a search, spread the word and let’s rid the country of unclaimed funds in 2014.