(Part 2 of 2)

Although there are many more, Illinois names the following as the most common types of missing money: credit balances, customer deposits or overpayments, safe deposit box contents, money orders, refunds, paid-up life insurance policies, travelers checks, unpaid wages or commissions, abandoned savings and checking accounts, bonds, stock, un-cashed dividends, mutual funds. 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 Illinois State Treasury has returned over $432 million since it took over 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 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 belonging 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 type of property 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 on to it until the true owner steps forward to claim it.

Additionally, residents of Illinois might be owed unclaimed property in other states even if they have never lived in or even been to them. Items like insurance overpayments when an employer uses 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 Illinois is currently holding a massive amount of cash 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 methods from locators with years of experience in this field can greatly enhance your abilities to locate your money.

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