(Part 2 of 2)

Although there are many more, Illinois lists the following as the most common types 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 one time or another is encouraged to search often.

The Illinois State Treasury has returned more than 432 million dollars since it took control of the unclaimed money 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 all the time, the heap of cash will keep on growing.

Due to the fact that money is constantly added to the fund, it is important to search regularly, not just once. Money belonging to you might be added tomorrow, or next week, or next month, or depending on the type of asset 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 rightful owner comes forward to claim it.

Additionally, residents of Illinois may be owed unclaimed money in other states even if they have never resided in or even passed through them. Things like insurance overpayments when an employer uses an out of state insurance company can cause found money to wind up 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 holding a large amount of money that belongs to its residents who just need to learn the right ways to search, how often to search, and where to search. Learning these search tips from experienced funds locators in this field can give you a boost in your abilities to track down your money.

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