(Part 2 of 2)

Even though there are many more, Illinois names the following as the most common types of forgotten funds: 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 types of accounts at some point in the past is encouraged to search regularly.

The Illinois State Treasury has returned more than 432 million dollars since it took over the unclaimed money program in 1999, 84 million dollars of which was given back in 2006 alone, but with $1.4 Billion waiting to be claimed and more coming in every year, the pile of cash will continue to grow.

Due to the fact that money is always being added to the fund, it's very important to search 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 5 years if that is the proper dormancy period. Each kind of asset 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 comes forward to claim it.

Additionally, residents of Illinois may be owed unclaimed money in other states even if they've 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 arise when corporations are incorporated in another state.

The bottom line is that the state of Illinois is currently home to a massive amount of money that belongs to its residents who simply need to learn the correct ways to search, how often to search, and where to search. Learning these search tips 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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Treasurer’s office helps people find unclaimed … – El Dorado Times
We've put a lot of extra effort this year in returning unclaimed money," McKinney said. He said they know people need the money more this year than ever with the economic situation and they want to get that money back into circulation.

State Treasurer's Office breaks unclaimed property … – WKOW-TV.com
We are seeing more claims come into the office every month and we want to get those people their money as quickly as possible." In March, the Unclaimed Property Department paid out more than $3 million on 4,848 claims. The second highest pay out …

U.K. Conservatives to Use Unclaimed Bank Assets for … – Bloomberg
March 31 (Bloomberg) — The U.K. opposition Conservative Party said it wants to channel unclaimed assets in dormant bank accounts into a proposed “Big Society Bank” to lend money to social-work projects. “We want there to be a new bank …

State giving 'unclaimed' money quickly – WXOW TV-19
MADISON, Wisconsin (WXOW) – The Wisconsin State Treasurer says her office set a new record with getting money back into the hands of the people it belongs to. Dawn Marie Sass says the Unclaimed Property Department paid out 4,848 claims in March …