Scott
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| Posted: Sun Apr 22, 2007 9:45 pm Post subject: Getting Your Money Back |
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Long story short, companies are required by law (after a certain time period; usually 3-5 years) to turn in unclaimed money over to the state. This process is known as escheating to the state. The money can vary from a last paycheck never issued or student financial aid that was never received by you. The organization I work for escheats thousands of dollars a year to the state.
To see if you have any money comming to you, simply go to your state comptroller's website and do a property search. The site will usually perform a search using your name and/or a former or current address.
BEWARE of companies trying to charge you money to process your claim. There are companies sending letters to people saying they will send you a claim form for a flat fee. Typically the form can be downloaded from the website for free. Remember this is your money and you are entitled to it. The only entity allowed to charge you any type of fee is the State and if the state does charge at all, it will usually be a very small fee.
I didn't find any money coming back to me, but I did do a search for my brother and family members. My brother ended up getting close to $700 dollars back.
Please, let me know if this advice was helpful for anyone. Don't worry; I'm not wanting to charge a finders fee.  I'm just curious if anyone benefited from this advice. |
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