Unclaimed Funds Could Save Your Holidays
- Author: Michael Bordonada
- Posted: 2022-11-22
Unclaimed funds are simple enough to understand. Sometimes you have money that's owed to you, or property in your name, and you're the one who has to claim it. For instance, if you have a stimulus check that you never received from the government, then it's not likely that they're just going to mail it to you. They likely don't know that you're owed this money, and so this is something you have to check on for yourself. Many people are turning to unclaimed funds around this time of year in particular in order to get a little bit of extra spending money for the holidays. Can this actually work to help you get some extra money?
The important thing to keep in mind here is that you're not necessarily owed any money. Having a great aunt somewhere who died and left everything to you is more of something you'd see in a movie, not something that happens often in real life. The government actually owing you money is a fluke of the COVID pandemic, and it is not something that happens every day. So, you have to understand here that you're not necessarily owed anything from anyone. You might check and end up finding that there's nothing at all in your name. A huge issue here is that some people find out about unclaimed funds and they insist that someone, somewhere owes them some money. This can lead to a lot of issues.
If you want to check to see if you have any unclaimed money or property that might come in handy this holiday season, it's important that you follow the proper steps.
Every State Has a Treasury Office
The first step here to see if you have any unclaimed funds in your name is to contact your state's treasury office. Every state has an office, and you need to contact the actual DotGov office, if you're doing it online. The better way to go about it here is to find the phone number and actually call. This way, you'll know for sure if you're speaking to the right people. You simply need to tell them what you're after. Tell them that you're checking to see if there are any unclaimed funds or pieces of property that are in your name. You'd be surprised to learn that a lot of people end up finding something. It's not typically that movie-like fortune, but many people end up getting insurance rebates, small sweepstakes, etc. There is no guarantee here, but you also won't know unless you check.
Avoid the Scam Sites
You also need to avoid those independent sites that claim you can check for unclaimed funds. The issue with these sites is that they always want something from you. They're going to want your address, your SSN, etc. The government already has this information on you, of course, and so they're likely not going to use it nefariously. Though when you offer this information up to these scam websites, they can use it to open up accounts in your name, attack your credit, and more. They lure people in by claiming that there's a lot of money in your name. People are desperate for money around this time of year, and so they get too excited and hand over all of their info.
The best way to go about things here is to just contact a legitimate government source. Whether it's through their website, calling them, or even physically stopping by the office, you're going to at least avoid getting scammed.
Don't Expect Too Much
Also, you shouldn't set your hopes too high here when dealing with unclaimed funds. As mentioned previously, you're highly unlikely to find that huge inheritance in your name. You might find some small property that's in your name. You can also find war bonds, rebates, and many more types of funds just sitting around in your name. The gist here is that there are some things that just sit around collecting dust. Even though the government in America is massive, there is no infrastructure available to make sure that you have things hand-delivered to you. A rebate or a piece of land in your name is likely to just end up sitting around unclaimed.
Temper your expectations here and don't expect a lot. Contact the right source and see if you have anything in your name. With any luck, you might get a boost for the holiday season.