(Part 2 of 2)

Although there are many more, Illinois names the following as the most common sources of missing money: 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 might have had one of these types of accounts at some point in the past is encouraged to search frequently.

The Illinois State Treasury has given back more than 432 million dollars since it took over 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.

Because money is always being added to the fund, it's very 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 5 years if that's the proper dormancy period. Each kind 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 on to it until the true 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 set foot in them. Things like insurance overpayments when an employer utilizes an out of state insurance company can result in found money located in other states. Also, issues often arise when corporations are incorporated in another state.

The bottom line is that the state of Illinois is currently holding a massive amount of money that is owed to its residents who simply need to learn the right ways to search, how often to search, and where to search. Learning these search methods from locators with years of experience in this field can greatly enhance your abilities to locate your money.

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