(Part 2 of 2)

Even though there are many more, Illinois 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. Anyone who has had or knows someone who may have had one of these accounts at some point in the past is encouraged to search frequently.

The Illinois State Treasury has handed back more than 432 million dollars since it took over the unclaimed funds 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.

Due to the fact that money is constantly added to the fund, it is 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 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 steps forward to claim it.

Additionally, residents of Illinois may be owed unclaimed funds in other states even if they have never lived in or even passed through them. Things like insurance overpayments when an employer uses an out of state insurance company can result in found money located in other states. Issues often also come up corporations' headquarters are in another state.

The bottom line is that the state of Illinois is currently home to a massive amount of cash that belongs to its residents who just need to learn the correct 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 greatly enhance your abilities to find your money.

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Treasurer McCord: Organizations Hurt by State Budget or Recession … – CNBC
HARRISBURG, Pa., Oct 08, 2009 /PRNewswire-USNewswire via COMTEX/ — Treasury's database contains names of individuals and organizations with unclaimed property "Social service agencies, schools, and local governments across the Commonwealth that are …

Unclaimed Tuxedo Ambulance Corps' bonanza worth $10K – Times Herald-Record
TUXEDO — The Tuxedo Volunteer Ambulance Corps had more than $10,000 collecting dust in a state fund for a decade, and never knew it. The emergency medical organization apparently had no idea it was owed $652 from Prudential Insurance, dating back …

Found: Owners of $147 million – San Marcos Daily Record
Many Texans had more money in their pockets after Texas Comptroller Susan Combs returned a record $147 million in unclaimed property to its owners in fiscal 2009, a 19 percent increase compared to fiscal 2008. Combs has expanded her agency’s …

Number of Unclaimed Bodies Increases as Families Can’t Afford Burials (New York Times)
Cash-strapped states and counties and private funeral homes are having to foot the bill for burials and cremations when families cannot.

Unclaimed property booth opens at fair – Jackson Clarion-Ledger
Reeves said he’s trying to return over $45 million to over 300,000 state residents, and he’s hopeful fair-goers will stop by the booth to find out if some that money belongs to them. The Unclaimed Property booth is located in the central bay …