Additional Coverage:
- Forgotten cash worth $70 billion remains unclaimed — most Americans aren’t even aware of it (marketrealist.com)
Is There $70 Billion Just Waiting for YOU? Unclaimed Cash Across America
Ever dream of finding a forgotten twenty in an old coat pocket? Imagine that, but on a national scale, with a whopping $70 billion just sitting around, waiting for its rightful owners!
That’s right, folks, a recent revelation from American Fund Recovery, a national asset-recovery firm, has brought to light an incredible sum of unclaimed cash and financial property across the United States. And here’s the kicker: many Americans aren’t even aware this money exists or that they can legally claim it.
This isn’t some mythical treasure chest; it’s real money from old paychecks, forgotten bank accounts, insurance refunds, and utility deposits. These funds often come to light when organizations can’t deliver them to the proper recipients. Think about it: a change of address without an update, a name change, a closed account, or even assets left behind when someone passes away without family realizing they exist.
But here’s the good news: when financial accounts go unused for an extended period, the money doesn’t just vanish into thin air. Instead, uncashed checks, insurance benefits, refunds, dividends, and more are eventually transferred into state custody. By law, states are then tasked with safeguarding these assets until their rightful owners step forward to reclaim them.
States are now making a concerted effort to reunite people with their forgotten fortunes. Take Maine, for example: last December, officials distributed unclaimed funds to approximately 1,900 individuals, with one lucky recipient receiving a staggering check for $120,542!
The state currently holds nearly $395 million in unclaimed funds and has even declared February 2-8 as ‘Unclaimed Property Week,’ an initiative championed by Governor Janet Mills. Similarly, Colorado’s Treasury Department, alongside the Great Colorado Payback program, hosted an open house to showcase unclaimed property.
Michigan officials are also urging residents to comb through state databases. Terry Stanton, who oversees Michigan’s Unclaimed Property Program, advises, “Even if you’ve checked recently, visit our website again-our database is updated multiple times throughout the year.” Maryland residents have access to the Kelmar Abandoned Property System, or KAPS, which allows users to upload necessary documents, track claims, and review details at their convenience.
Maryland’s Governor emphasized the state’s commitment, stating, “Helping Marylanders reunite with their unclaimed property is part of our work to be more accountable in government. The process to reclaim property is free of charge-I encourage all Marylanders to check for unclaimed property.”
So, if the thought of discovering a surprise windfall piques your interest, your first step is to search your state’s unclaimed property office. And if you’ve lived in other states, be sure to check those databases too.
Beyond official government websites, you can also utilize MissingMoney.com, a free resource designed to help you in your search. Who knows, a forgotten fortune might just be waiting for you!