A recent article on “We’ve Got Your Back” column details two people and their unclaimed money experience. Here is the article:
Two readers of “We’ve Got Your Back” recently got some good news and some not-so-good news. They recently received letters that family members had money owed to them. The not-so-good news was that there were some hefty fees that they’d have to pay to get their cash.
How it works: Most people, if they’re owed hundreds or even thousands of dollars, would be aware of it—you’d think. In fact, state governments are holding millions and millions of unclaimed dollars. They could be in unclaimed savings bonds, old security deposits, items from safe deposit boxes and more. Most states require businesses that hold unclaimed items to report them. The accounts have to be dormant and the location of the owners unknown.
You’ll see lengthy ads in The Morning Call and other newspapers occasionally with the state Treasury Department advertising unclaimed property. Most other state treasuries handle this money as well. In addition, there are honest, legitimate businesses that link people with money they’re owed, and that’s what appears to be the case for readers Monica and Paul.
What to do: If you think you’re owed money and it’s held here, go to www.patreasury.org/search.htm to search its database. Doing the search on your own can save you money and is easy, but if you’re without a computer or stretched for time, check the Better Business Bureau for a reputable private search firm.