(Part 2 of 2)

Although there are quite a few more, Illinois names the following as the most common types of missing money: credit balances, customer deposits or overpayments, safe deposit box contents, money orders, refunds, paid-up life insurance policies, travelers checks, unpaid wages or commissions, abandoned savings and checking accounts, bonds, stock, un-cashed dividends, mutual funds. Anyone who has had or knows 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 handed back over $432 million since it took over the unclaimed property 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 all the time, the mountain 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 owed to you could be added tomorrow, or next week, or next month, or depending on the type of property in five 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 turn it over to the state who will then hold it until the rightful owner comes forward to claim it.

Further, residents of Illinois might be owed unclaimed property in other states even if they have never lived in or even passed through them. Items 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 come up corporations are incorporated in another state.

The bottom line is that the state of Illinois is currently holding a large 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 experienced funds locators in this field can greatly enhance your abilities to track down your money.

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