Unclaimed property
Unclaimed Finance LLC, heir locators/finders who specialize in reuniting unclaimed property with their rightful owners. We have made a short interview with them:
What is Unclaimed Property?
Unclaimed property is defined as property that has gone through the following process: abandonment, and escheatment. A property is considered “abandoned” by the property owner whereby there has been no account activity or communication a period of time required by State law, oftentimes this period is 5 years. The process of escheatment applies to all financial institutions, brokerage firms, and recently retail institutions since the passing of law requiring abandoned gift checks and gift cards recorded on abandoned property reports. Prior to the property being transferred to the State’s Treasury department, the institution must make a good faith effort to locate the property owner. If they are unable to locate the owner, the property is escheated and/or transferred to the State in which it became abandoned; the State now becomes the owner of this account.
Uncashed checks, traveler’s checks or gift cards Money orders and travelers checks
Utility and security deposits
Checking, savings and safe deposit accounts
An inheritance, proceeds from a life insurance policy
Stock dividends and certificates
Bail bonds and inmate account refunds
How do you go about locating heirs and recovering asset in the United States?
We use a proprietary database as well as social media networks to try to locate property owners. If the property owner has been identified as deceased, the property will then become an heir claim, and we then focus our attention on looking for any potential relatives.
What is the misconception that people have about claiming their properties Unclaimed Property?
Given the many types of fictitious and fraudulent pieces of “too good to be true” communications we receive on a weekly basis via telephone, email, or regular mail, we have a right to be wary and suspicious consumers. However, the biggest misconception about Unclaimed Property is that the consumer believes there isn’t any possible way they could have unclaimed property in their name or that of a close relative who has passed away, making them an heir.
Next would be their mistrust of Government, in the sense that they have the misconception that if there is any money owed to them being held by the Government they have to “jump through hoops” and endless red tape in order to retrieve it. Both of these scenarios are simply not true, which is why in addition to actually locating and performing all the back end paperwork for our clients, Unclaimed Finance educates consumers on the entire process from transfer to the State Treasury offices to cutting the refund check.
What are the advantages of using the service of Unclaimed Finance LLC?
Our clients are the forefront, the focus and epicenter of our operations; without them our company would cease to exist. In return for their trust in us, we provide a full-service model wherein once they sign the forms required to release the funds as mandated by Law, we handle everything – legal review, telephone calls, email follow-up, in the event the release is contested and requires an in-person Court appearance, etc. Our service fees are the cheapest in the industry and always in compliance with State laws, averaging around 15%, cheaper than the 33 1/3% lawyers require.
Where and how can a prospective unclaimed property owner find you?
Unclaimed Finance is on the web at http://www.unclaimedfinance.com or call 24 hours a day, toll-free at (855) ANY-FUNDS. Our staff is diligently working through the database of to locate 4 million unclaimed property owners – as you can imagine this takes time. We reach out through telephone, email and US mail – so if you receive a communication from us, don’t delay, your money could be in your hands as quickly as 6-8 weeks.
