Did you know that millions of Americans are missing out on $58 Billion in unclaimed cash and other benefits? That’s about $185 for every resident and the average claim is roughly about $892, so that’s a nice little bonus to anyone.
How Does it Work?
The unclaimed assets come from a variety of sources, which include closed utility accounts from previous homes or apartments, abandoned or closed bank accounts and stock holdings, unclaimed life insurance payouts and forgotten employment pension benefits.
Under the various state laws, the financial institutions, companies and your employers are required to turn over any funds that are considered abandoned which were never claimed. This would include uncashed paychecks, forgotten bank account balances, unclaimed refunds, insurance payouts and any contents of that safe deposit box that you may have forgotten about. Plus even property is usually considered deserted after the holder of the account or property has had no activity with the owner of that piece of land for several years.
Sometimes the institutions will try and contact you, but if they have an old phone number or address, there is no luck in connecting you with the funds. Plus it’s estimated that the majority of the institutions do not even contact the people that are owed money because of the lack of resources they have and time it takes to logistically get the money to the proper owner.
How Do You Find Out if You Are Owed Money?
There are several websites where you can search by your name and state you live in to see whether or not you are owed any money. Get started below to see how much money you could claim.