Does the Government Owe You Money?

Everyone is looking for ways to find free money these days. In these tough economic times, every penny counts and can make a big difference in the functionality of day to day life. You may be surprised to learn that there is a possibility that you have money waiting out there that has yet to be claimed. And it is your money, with your name on it. There are several ways that you could have unclaimed money waiting for you to find it. Money that is yours that you either are unaware of or you may have forgotten about along the way. And when you find this money, it is like getting it for free…which is word that we all love to hear.

How do you find your money?

Finding money that is owed to you can be as simple as looking in the couch cushions for loose change. Each state government has set up a comprehensive database that allows you to search for unclaimed property and these resources allow you to search for your unclaimed property just by entering your name into that specific search engine. Examples of unclaimed property include deposits for utilities, unclaimed payroll checks, traveler’s checks, gift certificates, royalty payments, bonds, life insurance policies, inheritance and more. States are required to report unclaimed property if it remains unclaimed for a certain amount of time. The time period is usually around three years, but varies depending on the state law.

If you have moved, often there can be unclaimed deposits that never found their way back to you, even if you left a forwarding address. It is also possible that you received notice of unclaimed property but dismissed it as junk mail and threw it away without opening the envelope. It is also possible that you have a checking or savings account that has remained inactive but you still have money in it. It can be surprising the amount of money that you have forgotten about as the years have passed. There are also cases friends or family members that have passed away and that may have left you money or property that never was reported to you. Even if you are not sure you have money that has gone unclaimed, it can be beneficial to do a quick search just to see. You never know what you may find!