How Does Unclaimed Money Exist?
Millions of Americans have unclaimed money that they are unaware of. This happens for many reasons but the most common one is that companies cannot get a hold of the person that owes money because they have either moved, changed phone numbers, or they don’t have contact info on file for them.
This money simply sits with the company that owes you or they have to send it to the State depending on where you live and they hold it. This money is rightfully yours, so there is no reason not to claim it.
Examples of Unclaimed Money
Let’s say for example that you lived in an apartment or condo for a short period of time and were signed up to pay all your utilities for the place to live and then later on you moved to another place. This happens all the time where people move and most likely they have to sign up to different utility companies when they move.
Many times utility companies may require a deposit to initially get started if the person does not have the best credit, which is also common to many people especially if they are just first getting started. So when the person moves, they lose contact with the utility company and many times the company will mail the notice to the person along with a check.
If the person that moved did not put a forward on their mail, then the new owner of the apartment would get the mail and sometimes this would never get forwarded to the person. This is just one example, but it comes down to whoever owes you money not being able to contact you.
How to Find Out if You Have Unclaimed Money?
Many times, each state will have a database of record to see if you can search for unclaimed money. This is usually a free tool and you just need to go to your state’s website which usually ends in a .org. From there you can search by your full name and they will list how much money you may potentially be owed. You may be able to claim the money there, or they will list the company that owes you money and you can contact them direct to claim it.
Avoid Unclaimed Money Scams
Make sure to watch out for any websites claiming that they can get you unclaimed money by signing up and entering all your sensitive personal info like birthdate, address, etc. These sites don’t need that type of data as you typically only need to search by your name and state that you lived in. Also avoid any websites that charge a fee for their service as you can simply to your State website for free and do the search. Any website that charges a fee or even a monthly fee would be a scam and you should stay away from it.
Claim What’s Yours
Since it’s free to check to see if you have unclaimed money, it’s worth the time to take a few minutes and discover if you have any. This can come in handy especially if you are in debt or have some expenses coming up, you may be owed hundreds or even thousands of dollars from all the years in the past. If you have lived in multiple states, you will want to check each State website you lived in.