State Treasury Departments are hoard billions in unclaimed cash owed to its people BUT Cash Unclaimed has reunited countless Americans with their share of the nations $35 BILLION in unclaimed property.
On June 1, 2007 a federal judge ordered the state of California to halt the seizure of unclaimed property including cash, stocks, safe deposit box contents and other property. CA may be the first of many states to be exposed for their inadequate notification to unclaimed money owners.
Due to the lack of action by the State Unclaimed Property Divisions, such as in California, Cashunclaimed.com identified a need for a massive outreach to people nationwide due to the extremely limited, archaic advertising efforts of state and federal agencies controlling unclaimed cash. The states acquire BILLIONS in unclaimed money annually and do very little to reach the rightful owners, and instead of returning the money to the account owners it is spent through the states general funds.
The state of CA, like other states, has great interest in the unclaimed property program since it has generated over $5 Billion in revenue for the state of the years.
U.S. District Judge William Shubb in Sacramento expressed no sympathy for the CA state’s loss of revenue as he shut down the program tasking the controller with creating an improved notification system that meets the court’s approval.
Although many states have failed at their job of notifying unclaimed account owners, there is a website whose advertising and outreach to Americans has been successful and has reunited unclaimed property owners with their money.
Bill McIntosh, Founder or cashunclaimed.com stated, “Our mission is to reunite Americans with their unclaimed money.” Cash Unclaimed and other sites like it spend hundreds of thousands of dollars annually in an effort to reach Americans, educate the public on the topic of unclaimed money and make them aware of the high likelihood they are owed unclaimed money.
Although the states each offer a website, state specific website searches will only search for money turned over to that state and will not search the other 49 states or any federal databases.
This leaves too many opportunities for accounts to go overlooked when a person is searching for them. Therefore, private sites have created an unparalleled database of millions of people owed money in all 50 states.
With the total of unclaimed cash growing BILLIONS annually, sites like CashUnclaimed are working hard to assist Americans in claiming the money that is rightfully theirs. Private websites advertising and outreach efforts have reunited countless people with their unclaimed money and property.
Tags: cashunclaimed, countless americans, money bill, safe deposit box, shubb, state treasury, treasury departments, unclaimed property divisions, unclaimed property owners, unclaimed property program