Life gets busy. We move. We sometimes overpay a bill by mistake. We sometimes forget to cash a check. We are perhaps part of an unknown class-action lawsuit. It happens. But, where does all that money go if you forget about it or are unaware you’re even owed? Most of the time, it doesn’t disappear. It typically gets reassigned to the state or federal government. The good news is that it is still yours to claim. In this article, we’ll cover how you can find lost money or money that’s owed to you.
There is nearly $50 billion in unclaimed money and property nationally according to Smart Asset. I recently checked online to see if I was due any money. Turns out, I was owed about $100 from the State of Michigan. I had a small tax refund from the City of Detroit that never got cashed several years ago. It took me about 30 minutes to get a claim submitted. This equates to $200 per hour of my time. I’ll take it! I also recently heard a story from one of our readers who had over $1,000 he was able to claim that was owed to him. Another who had over $4,000 worth of back pay due to him for uncashed wages.
What are you due?
What type of unclaimed property could you have waiting?
The list of unclaimed property can vary greatly. This can include:
- Security deposits
- Contents of a safe deposit box
- Unknown savings bonds in your name
- Unclaimed income tax refund
- Insurance proceeds
- Uncashed paychecks
- The list goes on…
How do I find out if I have lost money or money owed to me?
- Head to MissingMoney.com. This is a national site that will give you a broad search for money or property that may be owed to you. This site is especially a great place to start if you’ve lived in other states throughout your life. Within the site, you can also do specific searches by state. I think it is best to start, however, with the national search on the homepage.
- Type your name into the search area of the homepage and see what comes up.
How do I claim money that I’m owed?
- If you get matching results, when you select “claim,” it will take you to the next steps. In my case, I was asked if my address information matched a place I had lived, if I had conducted business with the entity that owed the money, etc. When I selected “yes,” it then confirmed that I’m eligible to claim the money. I was then redirected promptly to the State of Michigan’s unclaimed property site.
- Each state may handle claims differently, but in my case, my claim form was pre-populated with information. I signed the forms, along with providing a photo of my driver’s license and social security card. I uploaded this to the site (you can also mail these in).
- You should be sent a confirmation email indicating that your claim was being reviewed.
Why should I even bother to submit a claim? It will take too long.
This is YOUR money. You can find your lost money. Consider it a treasure hunt. As I mentioned earlier, my claim was for around $100. Since this took only 30 minutes of my time, I consider it well worth the time. Plus, it is the principle for me. If it is yours, you are entitled to it. Who knows, you could be owed hundreds or even thousands of dollars. You could use that money toward a vacation, paying off bills, investing, a massage or whatever you damn well choose.
Go get it!
I hope you’ve found this helpful, and I wish you luck in your treasure hunt. Remember to visit MissingMoney.com ASAP to see if you are owed money. It’s ‘Good for Your Wealth.’ Go get it.
Happy hunting!