(Part 2 of 2)

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

Due to the fact that money is always being added to the fund, it is important to check regularly, not just once. Money belonging to you might be added tomorrow, or next week, or next month, or depending on the type of asset in 5 years if that is the proper dormancy period. Each type of asset has its own dormancy period in 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.

Further, residents of IL may be owed unclaimed funds in other states even if they have never resided in or even set foot in 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 come up corporations are incorporated in another state.

The bottom line is that the state of IL is currently holding a massive amount of money that is owed to its residents who simply 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 give you a boost in your abilities to find your money.

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