Found Assets

[amomof4]

A few years ago, I did the search and found $2,000 for a closed escrow the we had forgotten about.

[Tree0164]

Two years ago I got $250 back from an old car insurance policy! It was pretty cool.

[CheaplyClever]

Our state (and yours too, I'm certain) has an unclaimed property link. We checked and my husband found his name and the amount of $108. It was from the doctor's office. He paid the bill, then the insurance company paid the bill....and you would think that the doctors office would credit the account, but no. In the meantime, we had moved to the neighboring town. The refund had the old address and new town name. I had to provide a lot of information to the state of North Carolina, proof that we moved, a copy of our state tax refund for the year in question, a paycheck stub with husbands SS#. We finally did get the $108 refund, whew.

[CRFSaver]

It is a process called escheating. When money's or properties come back to a bank or a company, if they can't find you and after a certain amount of time, they are required to Escheat it to the State. The State is then responsible for it. Be aware though that depending on what state you live in, there is a certain time frame to claim lost properties. I believe Illinois holds an auction for unclaimed property that is 5 years old. Just something to check on.

On another note, if someone ever calls you telling you they found lost property of yours, just go to every state you have lived in and check yourself. No need to pay any service charges.