(Part 2 of 2)

Even though there are quite a few more, IL lists the following as the most common sources of forgotten funds: unpaid wages or commissions, abandoned savings and checking accounts, bonds, stock, un-cashed dividends, mutual funds, credit balances, customer deposits or overpayments, safe deposit box contents, money orders, refunds, paid-up life insurance policies, travelers checks. People who have had or know someone who may have had one of these accounts at one time or another is encouraged to search frequently.

The IL State Treasury has returned more than 432 million dollars since it took over the unclaimed money program in 1999, 84 million dollars of which was given back in 2006 alone, but with 1.4 Billion dollars waiting to be claimed and more coming in all the time, the heap of cash will keep on growing.

Because money is constantly added to the fund, it's very important to check regularly, not just once. Money owed to you could be added tomorrow, or next week, or next month, or depending on the type of property in 5 years if that's the proper dormancy period. Each kind of asset has its own dormancy period in each state, after which state laws require the holder to turn it over to the state who will then hold it until the true owner steps forward to claim it.

Additionally, residents of IL may be owed unclaimed money in other states even if they've never lived in or even been to them. Things like insurance overpayments when an employer uses an out of state insurance company can cause found money to wind up in other states. Also, issues often come up corporations' headquarters are in another state.

The bottom line is that the state of IL is currently home to a large amount of money that is owed to its residents who just need to learn the proper ways to search, where to search, and how often to search. Learning these search tips from experienced funds locators in this field can give you a boost in your abilities to find your money.

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