January 25, 2012
Find Illinois Lost Money – Part 1 of 2
(Part 1 of 2)
In May of 2007, IL State Treasurer State Treasurer Alexi Giannoulias stated that the state's "Cash Dash" program currently holds nearly 1.4 Billion dollars in Illinois unclaimed money. The only thing getting between the cash and its rightful owners is the knowledge that it's out there and the knowledge to locate it.
Sadly beyond just IL, state treasury departments across the country keep on taking in more unclaimed funds every year than they give back to the people. Because everyone believes in the old "if it's too good to be true" saying, most people refuse to believe that there are truly tens of billions of dollars waiting to be claimed across the country. Even for those few who have learned the truth about unclaimed cash, the best way to locate these monies eludes them more often than not.
The Prairie is State is one of those rare states that is holding over 1 billion dollars on its own, which means if you're a resident of IL then you have even better odds of locating a claim in your name, especially after you factor in that the state has less than 13 million people and there are over 10 million names on the state's IL list.
Even though there are quite a few more, IL names the following as the most common sources of missing money: 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 may have had one of these accounts at one time or another is encouraged to search often.
The IL State Treasury has handed back more than $432 million since it took over the unclaimed funds 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 all the time, the heap of cash will continue to grow.
(to be continued)
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