(Part 2 of 2)

The IL State Treasury has given back over $432 million since it took control of the unclaimed property program in 1999, $84 million of which was returned in 2006 alone, but with 1.4 Billion dollars waiting to be claimed and more coming in every year, the mountain of cash will continue to grow.

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

Further, residents of IL may be owed unclaimed property in other states even if they've never lived in or even been to them. Items like insurance overpayments when an employer utilizes an out of state insurance company can cause found money to wind up in other states. Issues often also arise when corporations are incorporated in another state.

The bottom line is that the state of IL is currently holding a large amount of money that belongs 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 locators with years of experience in this field can give you a boost in your abilities to find your money.

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