Most of us today are unaware of the term known as missing money because of our ignorance. Missing money is a financial asset that has no owner or has been discarded by its owner for over a period of five years or more. Other terms for missing money is unclaimed money, unclaimed funds, or lost money. These terms are interchangeable, and all refer to the same things. All of these terms, still are in question by the public, which is why there has been such a low turnout of those who come forward to make ther claim.
The most common sources of missing money are safety deposits, savings accounts, checking accounts, stocks, certificates of deposit, forgotten utility deposits, matured life insurance policies, and un-cashed death benefit checks. These are all real sources of money that once belong to someone. Despite the hesitance of the public to believe in missing money, it has become an increasing problem among the state and federal governments.
Recent state and federal figures will indicate that there are approximately billions of dollars when it comes to unclaimed money or property alone in the United States. The missing money mainly comes from security deposits, forgotten apartment deposits, lost insurance refunds, and un-cashed overtime checks. Everyone wants their hard earned money back, but the main problem in doing so is the legal obligations involved in the procedures. We try to claim our money annually, but fail because of the lack of proper knowledge to apply for the same under legal jurisdiction.
There are multiple reasons that lead to having missing money. The government holds it for several years and the best part, is that you may not have even the slightest idea it exists. To make things easier, think of the possible circumstance that might have resulted in unclaimed property or unclaimed money, such as will of family members or friends, old savings accounts, or forgotten utility deposits of any kind.
Here are the best possible steps to take when searching for unclaimed money:
First, prepare the list of all the possible places where you have been and stayed. After preparing the long or short lists, locate the names of all the banks whose services you have availed, because one of these banks might be holding the money that has not been claimed.
Call the billing offices of all the doctors whose treatments you have undergone. There are chances when you might have over paid the doctor, which is something often overlooked by many. The presence of your account number will increase the chances for you to get back your hard earned money.
Internet is the best medium available today for finding information related to unclaimed money at departments for different states. At this stage, you need to take a look at the list you prepared in step number one. After selecting a state, try entering any of the name combinations that you have come up with whether, it is a maidens name or a nick name.
Lastly, fill the application form for getting back the missing money and submit the same along with the required documents for verification.
Recovering missing money is not a particularly easy task, however, if following the appropriate steps mentioned, you will be reunited with your missing money in no time.