Free Money! (kinda)

Tuesday, August 13, 2013

I don’t remember who first told me about Unclaimed Property but if I did I would plug them here for being so awesome.  Unclaimed property according to the National Association of Unclaimed Property Administrators (NAUPA) website:
“refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for one year or a longer period. Common forms of unclaimed property include savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler's checks, trust distributions, unredeemed money orders or gift certificates (in some states), insurance payments or refunds and life insurance policies, annuities, certificates of deposit, customer overpayments, utility security deposits, mineral royalty payments, and contents of safe deposit boxes.”

Companies who are unable to locate the person they need to return monies to are obligated by law to turn over those amounts to the state who then continues to try and find you.  Doesn’t seem like they try that hard to me but no matter, that’s what these Unclaimed Property websites are for.  Each state (and Quebec, BC and Alberta in Canada) have their own websites for you to search.  If you’ve ever lived there, you should do a search!  I found my dad $15 from the very first house my parents owned together in Louisiana and we haven’t lived there in 25 years!
We were a bit hesitant at first, especially since they ask for your Social Security number and most states make you mail in a hard copy form to prove you are the property owner.  When I first did a search in Texas, I found a couple of different properties that were owed to me from the electric and cable companies in College Station.  It wasn’t very much money, $30 maybe, but still- that is MY money and I want it! I don’t know how long each state will hold on to unclaimed property but eventually they auction off some types and I’m sure after enough time they just take the money for the state.  Yeah, not my money Texas, sorry! It can be a substantial amount of money... 1 friend found a combined $600 from various places she lived all over the country spanning the past 40 years! And I just found my bestie’s brother $2k!  I really want to hear how that one turns out.  Hmmm maybe I should ask for a finder’s fee :)

So basically you should all go to www.unclaimed.org.  They have links to each state’s official Unclaimed Property websites and can help convince the skeptics out there.  I’m always, ALWAYS hesitant about giving out my SSN so I’m going to urge you to be careful in this.  I’m sure some creep out there has figured out a way to ruin this.  If it makes you more comfortable you can call your state comptroller’s office to actually talk to a person about Unclaimed Property (that’s the contact in Texas and Louisiana at least).  I mean, it’s free money.  YOUR money.

Good luck friends!

signature

2 comments:

  1. BETH!! You are awesome! I have tried this before, but never thought to check Texas. I just claimed 128.00!! You're the best. :)

    ReplyDelete