I really can’t speak for anyone else. I personally have heard for years. about unclaimed government money programs. I felt these programs like a Bigfoot sighting you hear about it but doubt it exsists until you experience it for yourself well the unclaimed money program does exsist.I have found lost money I was owed and collected it. (As far as seeing Bigfoot sorry. I still havent seen one.)
How did I find the money I was owed? Well the day I joined AC I was reading through various articles to get a feel for the AC site and I happened read one by fellow CP Tori titled “The Government May Really Owe You Money! How to Find Out & Collect.” So I visited the website mentioned in the article MissingMoney.com and the following is my story on how I found unclaimed money that I was owed and even better didnt know I was owed it.
Missingmoney.com as it turns out is a multistate enterprises to reunite people with lost funds. Which can include returned payments for money on say lapsed insurance.Rent deposits etc. It also includes unclaimed funds of deceased relatives.This can include benefit payments for insurance rent deposits etc.
When I searched the site I was search I was looking for unclaimed funds under my own name and my deceased mother I figurerd I since I moved around alot and there just be some things regarding my mother that I wasnt aware of since her deatth. As it turns out during both searchs I found nothing as regards myself.But it turned out my mother had some unclaimed funds So I filled in the necessary information in missingmoney’s online claim template printed it and snail mailed it. Completely curious as to what type of information would comeback.
After waiting 2 weeks I recieved mail from the NJ treasury department with 2 letters. The first was a letter stating that I was owed a unpaid state income tax check for $20.75 from that went to the wrong address the year I filed it. so I never got the check. the second was a letter stating that my mother was owed some unpaid insurance benefits the total principle being $1769 as well as information on the paperwork I needed to send in to claim the money .Well the main thing I remembered from the article was whenever the government safekeeps money they place it in a interest bearing account So I figured let’s find out some more information. Before I jump for joy on this unexpected but welcome turn of events.So I emailed a list of questions to the contact person listed on my letter I found out the following:
1. the amount of interest on my unclaimed state income tax was $4,37.making my total 25.12 my mother’s unclaimed benefits the amounted interest was $730 which made the total over $2400
2. the state of NJ had been holding the benefit money since 1996 mother passed away in 1991.
3. Since my mother had no will I had to fill out and file paperwork for a document called a next of kin certificate and submit the certificate to the unclaimed property department along with copies of my ID and Social Security card. my mother’s death certificate and my birth certificate. This made it possible by showing both that I was her legal heir and qualified to recieve the funds. So after sending all the necessary paperwork I recieved a State check for $2500. within another 2 weeks. So it was definitely worth the effort.
Here are a few suggestions about finding and claiming your own lost funds.
1. Make sure you keep a record of all your old addresses especially if you lived in more than one state. since most likely you may see just a last name and intial also if you have had multiple addresses in one state you really dont have to file multiple claims for that state. Since you are sending in your social security number they will use that to check if you have any other claims in that state meaning if you live in NJ and had more than one address in that state they will simplely check under your social and let you know any additional claims you may have for NJ. you will have to file more than one claim only if you lived in more than one state.
2. When mailing the intial claim form from Missingmoney.com dont send copies of anything just yet you are basically on a fact finding mission. Where you are basically learning what the claim is and obviously what the state will require of you to claim it.
3. Don’t be afraid to ask questions. As the claimant you have a right to know. such things as how long has the state had it. what is the total interest paid on it. and especially if it is regarding a deceased relative what would be acceptable substitute documents if for any reason you dont have or arent able to come up with any of the documents they have listed also where you can get them and they will refer you to the appropriate agency.
4.As regards thoughts that a. this money will make you rich? probably not even though I have a extra $2400 or so to work with it hasnt elevated me to millionaire status but then again it depends on the amounts of the unclaimed money you never know.In other words I hope you like surprises. also this money for all thoughts and purposes is not free you will have to pay income tax on your claimed money. One of the things mentioned in my letter was the Unclaimed Property dept would be sending letters to the IRS and NJ state treasury about the calim so i will have to report this on my state and federal income taxes for 2007. One of the reasons they started this is that as long as they have unclaimed money in their possesion they cant touch it due to both state and federal laws. So get the money back to it’s owners or the owner’s heirs so they can at least tax also the reasons why businesses report and turn the unclaimed/lost funds to the state givernments is that by state and federal law they cant keep it either otherwise these busiensses would simply put these funds as part of their profits these are just items for you to remmember.
Now that the disclaimer is out of the way search for those unclaimed funds you never know and be sure to read Tori’s article here
