Did you know that it is estimated that one in ten people in the United States has unclaimed money just sitting there waiting for someone to claim it? Where is it? Your state government has it and it’s pretty easy to get.
By the end of this article, I’m going to help you check and find unclaimed money that may belong to you.
Over $40 Billion in Unclaimed Property is Available
Here are a few quick facts for you:
- Unclaimed property is one of the first consumer protections programs that has been put into place in both the US and Canada.
- In 2011, over 2.5 million people collected money that belonged to them, which totaled over $2 billion.
- There is over $40 billion dollars just sitting there waiting to be claimed.
- Every state in the United States has an unclaimed property program in place.
- Many provinces of Canada have unclaimed property programs in place.
- An estimated one in ten people have unclaimed money waiting for them.
Where Did This Money Come From?
Possibly you. According to the state of Massachusetts, it is estimated that one in ten people have unclaimed money that is due back to them.
This money at one point was either in your possession or intended for you. For example, in the state of Massachusetts, any account that you have that is not maintained once in at least two years is taken by the state. Why? It is assumed that if you don’t have any contact with your bank, brokerage, or other financial institution within that time, that you have forgotten about it. The state collects it for you so you can easily find it (This is sometimes referred to as “escheatment”).
A check could have been issued and mailed to you but if it was returned, due to a bad address, it goes to the state as well. This could be payment owed to you in the form of dividends, interest, or a great number of other reasons. For whatever reason, you never got it and now your state has it.
The trouble is that most people don’t know about this program, which is why I’m sharing it with you how to find unclaimed money that’s out there. Just do me a favor. Help your family and friends by sharing this article with them. 1 in 10 people will thank you for it!
How Do You Find Unclaimed Money and Put it Back in Your Pocket
That’s simple. Once you find unclaimed money, just ask for it. Each state or province is different, but you basically just need to ask for it and complete some simple forms (in many cases this can also be done online).
I’ve made you wait long enough. Let’s get right to it, shall we? Follow these steps to find unclaimed money that may belong to you. As the statistics show, approximately one in ten of my readers will probably find something.
- Visit www.missingmoney.com
- Enter your first name, last name, and residing state (hint: if you have lived in multiple states, you’ll want to do this for each state you’ve lived in)
- If your name is listed, click on it.
You may need to go to the official state website to submit your claim and get paid what’s owed to you. Don’t worry, a link is provided by MissingMoney to do this. Note: not all states are listed on this website. If you live in a state not provided by MissingMoney, just go to your favorite search engine and type in “abandoned property” and your state’s abbreviation. For example, if you live in NY, you would type in “abandoned property ny”. This should bring up your state’s abandoned property site easily.
By the way, if you’re wondering, I had unclaimed property in the past. I was able to put a few hundred dollars back where it belonged. There’s a good chance you will as well. So go on over to MissingMoney and find out if your state government has money waiting for you. If you find unclaimed money in your name, I’d love to hear about it!