Tuesday, July 5, 2011

Do you have Unclaimed Property

Here is a WealthThought focused on the personal finance side.

Somebody may be trying to return property to you or refund money that they owe you!

A few months ago I received a letter informing me that I had several unclaimed property accounts for a pretty nice little sum. In other words, several parties had attempted to return money to me and were unsuccessful. I have never received a letter of this kind and I was very interested to find out more.

I called the company who sent the letter and they confirmed that people were trying to return money to me and that they would retrieve it for a fee. The fee was small, but now I was starting to get skeptical. I ended the phone call and set out to research more facts about unclaimed property. There are many reasons why someone may have unclaimed property. In my case, I had moved several years ago and the parties simply could not reach me. After a period of time, unsuccessful attempts to refund money to its rightful owner require the organization to send it to the State until it is claimed. You do not need a third party to help you find unclaimed property that you may have. You can do a search right from the following site here in California without using a middle man.

When you do your search, make sure you are mindful of the different ways people can identify you. For example, if you are married, do a search with both your married and maiden names. Once you find unclaimed property owed to you, by using this source you can retrieve your property without paying a fee. You simply fill out their forms, send them to the state, and check back on the site to keep track of the status of your claim. This is fun and you never know. You may get lucky. An old health insurance provider may be trying to refund a premium you overpaid or a relative may have left you part of their estate. Happy searching!

Here is the California link http://scoweb.sco.ca.gov/UCP/Default.aspx