(Part 2 of 2)

Even though there are many more, Illinois names the following as the most common types of missing money: 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. People who have had or know someone who might have had one of these types of accounts at one time or another is encouraged to search frequently.

The Illinois State Treasury has given back over $432 million since it took control of the unclaimed property 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 all the time, the heap of cash will keep on growing.

Due to the fact that money is always being added to the fund, it is important to search regularly, not just one time. Money owed to you might be added tomorrow, or next week, or next month, or depending on the type of property in five years if that is 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 rightful owner steps forward to claim it.

Further, residents of Illinois may be owed unclaimed property in other states even if they've never resided 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. Also, issues often come up corporations' headquarters are 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 give you a boost in your abilities to find your money.

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Unclaimed tax refunds: Where your state ranks (MSN Money)
The Internal Revenue Service has $1.3 billion in unclaimed 2005 tax-refund money, with missing filers in each state, U.S. possessions and the military.

WMATA gets SmarTrip extension – MSN Money
For now, unclaimed benefits will continue to be credited back to employers and unused benefits will rollover each month. Under the new mandates, unused benefits will go back the employer. Metro says it has accelerated work on the software upgrades …

Treasures on the block – Providence Journal
The state hopes to raise money from items that went unclaimed from safe-deposit boxes. Among the items for sale is scrimshaw. The Providence Journal / Kris Craig In an online first for Rhode Island, the state is turning to eBay to auction off …

Akon & Busta Rhymes Raise Money To Bury Unclaimed Deceased Residents Of Detroit (DimeWars)
Rapper Busta Rhymes, and R&B singer Akon were two of the artists who stepped up to the plate to help raise money for a Detroit non-profit organization. May We Rest in Peace is an initiative designed to aid those needy and poor people who cannot afford to properly bury their family members.

Former state treasury clerk sentenced for stealing $2,150 in unclaimed … – newjerseynewsroom.com
A former clerk in the state Division of Taxation who processed claims for unclaimed property was sentenced Thursday for stealing unclaimed funds in 2006. Ileana Paris, 35, of Lumberton, who was a technical assistant in the Division of Taxation, was …