(Part 2 of 2)

Even though there are quite a few more, Illinois names the following as the most common types 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. People who have had or know someone who might have had one of these types of accounts at some point in the past is encouraged to search often.

The Illinois State Treasury has returned more than $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 dollars waiting to be claimed and more coming in every year, the mountain of cash will continue to grow.

Because money is always being added to the fund, it's very important to search regularly, not just one time. Money belonging to you might be added tomorrow, or next week, or next month, or depending on the type of asset in five years if that is the proper dormancy period. Each type of asset 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 true owner comes forward to claim it.

Further, residents of Illinois might be owed unclaimed property in other states even if they've never resided in or even been to them. Things like insurance overpayments when an employer utilizes an out of state insurance company can cause found money to wind up 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 home to a massive amount of cash that is owed to its residents who just need to learn the correct ways to search, where to search, and how often to search. Learning these search methods from experienced funds locators in this field can give you a boost in your abilities to locate your money.

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