Bypass State Unclaimed Funds – A Money Finder Loophole

Posted by admin on January 21st, 2011


If you are or are thinking about becoming a money finder, you’re probably more than a little bummed out about the 5-15% finder fee caps imposed by almost every state unclaimed funds department. There’s so much money out there and so many people that will probably never hear about it without the aid of a professional money finder, that really, you’re right to feel a little peeved about that. You deserve a larger cut for the work you do.

Ready for some good news? Due to a loophole not many people know about, certain funds are exempted from these laws: funds that are held outside of the state unclaimed funds department. This means you can legally charge 30-50% (or more, depending on the complexity of the case) for locating and recovering people’s missing money. The big loophole, again: funds held outside the state unclaimed funds department are generally not subject to finder fee caps.

Not familiar with money finders? They’re professionals that locate funds being held by government agencies that are due to ordinary citizens, that for whatever reason remain unclaimed by their rightful recipients. These funds can come from tax and mortgage foreclosure overages and missing heir type situations, and well as countless other sources. What they all have in common is that if they aren’t claimed in time, the government gets to keep them – which means money finders are desperately needed, especially in the current economy.

If you’re already a money finder, or want to be become one, bypass state unclaimed funds. They’re too public, too easy to find, and there’s too many people already working those cases – and of course, they’re subject to those finder fee caps mentioned above. Go after the funds that are floating around outside the state unclaimed funds division – tax sale overages, mortgage foreclosure overages, dated checks, and unclaimed inheritances. These funds are almost never advertised publicly on a website, and almost always are due to recipients that have no clue they’re due the money.

By: Maggie Dawson

About the Author:
The most important thing to learn is how to find records of these funds, and find and approach claimants while keeping your sources secret. To read the Insider’s Guide to Generating Finder Fees, Click Here Now.

Ms. Dawson is a “found money” expert.



California Uses Unclaimed Money to Fix Budget Deficit

Posted by admin on January 20th, 2011


California tops the chart in unclaimed money laying with the state treasurer. The state is trying its best to get the unclaimed cash to the rightful owners. To reach the owners individually, California government is sending more than 9,000 memos this week. Week after week the reminders are being sent to the businesses as well as individuals to inform them about any unclaimed cash or property in their name.

The state’s coffers are getting filled with Unclaimed Property Program that receives unclaimed checks from various banks, insurance companies, utility services, employers, etc. Any financial instrument, if unrealized for more than three years, is categorized as unclaimed money.

U.S. law makes it mandatory for them to hand over unclaimed cash and property to state treasurer. This has resulted in about $5.7 billion unclaimed from more than 11.6 million accounts.

The leading U.S. State, California, is reeling under budgetary deficit. The state is faiiing at all attempts to garner more cash and restrict expenditure. The huge cache of unclaimed money is looked at by Californian politicians as a valuable resource to fill its budgetary gap. Last year, California had $6 billion budgetary deficit and the state’s Legislative Analyst’s Office projects the deficit to reach $20.7 billion this fiscal year.

In his “May Budget Revise”, California Governor Arnold Schwarzenegger set guidelines for the state legislature to deal with the state’s budget deficit prior to the start of the next fiscal year on July 1.

Governor has proposed complete elimination of the state’s Welfare to Work program that provides monthly payments of $694 to unemployed individuals. State’s In Home Support Services program is also slated for cuts worth $750 million and further, $602 million is to be cut from the state’s Food Stamp Program.

Such stringent methods may curtail the state’s overall future growth and welfare schemes. The well-wishers are of the view that as the unclaimed cash is laying dormant even after rigorous attempts by the state; this treasure is likely to remain unclaimed for long time to come. Many citizens and the government are of the view to explore theses reserves to fill up the budget deficit.

Almost every American has some kind of cash laying unclaimed in his name. Surprisingly, they are not even aware of the fact. The California state have sent memos regularly and resorted to various means to inform people about any unclaimed cash in their name. Local newspapers have widely published the lists of unclaimed cash owners.

Californians are urged to carryout online search of any unclaimed cash in their name. Finding this cash is made a lot easier now owing to online presence of databases.

By: Nicoles Anderson

About the Author:
With the websites like http://www.cashunclaimed.com, a person can access various databases of different states to search any unclaimed cash in their name. Till the rightful owners do not come forward, it will make a good economic sense for the state to utilize the unclaimed money for filling up the deficit.

California shouldn’t use your rightly earned money to pay off its deficit! Many Americans have unclaimed money in their name they are not aware of! Go to http://www.cashunclaimed.com today to do a free search of any unclaimed money which might be owed to you!!



Unclaimed Abandoned Property – Find it, and Collect Five Figure Finder Fees

Posted by admin on January 20th, 2011


Ever heard of unclaimed or abandoned property? It’s money or assets that are being held in the possession of a governmental agency, that belong to a business, or an ordinary citizen like yourself. You may have seen state abandoned property websites, where you can type in your name and see if you have a forgotten bank account, or an old utility deposit that’s been turned over to the government. That is unclaimed abandoned property – but unclaimed abandoned property can also be (and often is) sums of money that run into the tens of thousands of dollars.

Unfortunately for their rightful recipients, if left unclaimed for too long, these funds are lost permanently to the agency holding them or the state government. That’s where you come in – locate these funds, locate their owners, and charge a hefty finder’s fee for your service.

“How?” you may be asking. “Aren’t there caps on the percentage a money finder can charge for assisting in the location of state unclaimed funds?” The answer is yes. Most states impose a 5-15% limit on finder’s fees. These laws have almost all come into effect in the last few years, causing a lot of money finders to leave the field, move on to greener (read: more lucrative) pastures. It’s too bad; there is a ton of money to made from finder’s fees… you just have to go after funds that aren’t governed by those money finder laws.

It’s a little-known loophole that’s allowing money finders in the real estate industry to make money hand over fist. Tax sale overages, mortgage foreclosure overages, and many other funds held outside the state unclaimed funds division aren’t subject to these finder fee caps. In fact, they aren’t governed by caps at all, meaning you can legally and ethically charge 30-50%, or more, depending on the complexity of the case.

Since these overages are being created at an almost alarming rate with the skyrocketing foreclosure rate in the current economy, money finders are needed more than ever. Without money finders, these funds will likely sit, unclaimed, until they escheat to the government – usually within only five years. The rightful owners of the overage money need money finders to locate and alert them to the presence of their funds – and are willing to part with 30-50% for their services.

By: Maggie Dawson

About the Author:
The most important thing to learn is how to find records of these funds, and find and approach claimants while keeping your sources secret. To read the Insider’s Guide to Generating Five-Figure Finder Fees, Click Here Now.

Ms. Dawson is a “found money” expert.



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