(Part 2 of 2)

Although there are many more, IL names the following as the most common sources of missing money: abandoned savings and checking accounts, unpaid wages or commissions, stock, bonds, mutual funds, un-cashed dividends, customer deposits or overpayments, credit balances, refunds, money orders, travelers checks, paid-up life insurance policies, safe deposit box contents. 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 over 432 million dollars since it took over the unclaimed money program in 1999, $84 million of which was given back in 2006 alone, but with 1.4 Billion dollars waiting to be claimed and more coming in every year, the heap of cash will continue to grow.

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 asset in five years if that is the proper dormancy period. Each kind of asset has its own dormancy period within each state, after which state laws make the holder turn it over to the state who will then hold on to it until the true owner comes forward to claim it.

Additionally, residents of IL might be owed unclaimed money in other states even if they've never resided in or even been to them. Things 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 home to a massive amount of cash that belongs to its residents who just need to learn the proper ways to search, how often to search, and where to search. Learning these search methods from locators with years of experience in this field can give you a boost in your abilities to locate your money.

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