One of the United States biggest hustle, are unclaimed funds FYI. Who would have ever though there’s an whopping $49 billion of unclaimed funds awaiting uncle Sam’s already overly expanded pockets reported by Forbes Advisor
With foreclosures up 700%, gas prices at an all-time high, food prices rising along with inflation who wouldn’t appreciate an unexpected check of “Already Your Money” to appear out of thin air. Okay just give me what is already mine without the treasure hunt!
Before I go any further, here is a little information on what exactly unclaimed funds (money) are.
What Is Unclaimed Money?
Unclaimed money is money that belongs to you but because the payer couldn’t contact you, it is sent to your respective states’ treasury department.
Unclaimed money can come from a range of sources, including abandoned checking and savings accounts, company refunds, annuities, customer overpayments, payroll checks, investment accounts, trust distributions, life insurance payments and utility security deposits. It can also include physical items that were abandoned in safe deposit boxes such as precious metals.
If the payer is unable to contact you to deliver your money, the money enters a “dormancy” period. Once that dormancy period exceeds a specific amount of time, the money must be turned over to the state treasury department.
Each state has different lengths of dormancy periods based on the type of property. For example, California has a one year dormancy period on wages, three years on dividends, and 15 years on travelers checks. But once the dormancy period passes and the payer has done their best to deliver the money, the money is turned over to the respective state, and remains there until it is claimed.
It’s estimated that about one in 10 people have unclaimed cash. Do you have any unclaimed money with your name on it?
Unclaimed property (money) laws can be confusing and can create traps for the uninformed. Never be afraid to seek aid, not all companies are scams!
YESHAYAH (ISAIAH) 40
31but those who wait on YAHAWAH יהוה renew their strength, they raise up the wing like eagles, they run and are not weary, they walk and do not faint.
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