North Carolina Unclaimed Money Reaches $700 Million

As more NC unclaimed money continues to be turned over to the state, than
returned to it's rightful owners, the state's missing money treasure chest has
swelled to a record $700 million! These unclaimed funds already belong to
regular people whose only obstacle is learning to properly search for and locate
all possible claims.

According to the North Carolina Department of the Treasurer, there are over
100 types of property that may become unclaimed after being dormant for 1-5
years (depending on the type of property). Of those 100 types, NC lists
"bank accounts, wages, utility deposits, insurance policy proceeds, stocks,
bonds, and contents of safe deposit boxes that have been abandoned" as
some of the most common.

As with unclaimed property across the country, the biggest obstacle in
discovering North Carolina unclaimed money, is often the peoples' searching
capabilities. For starters, very few people are even aware of these abandoned
funds (or they'd obviously have never forgotten them), and those that are
aware, simply haven't been taught the proper way to search.

With nearly 1.5 million properties being held by the state, the chances of being
owed money are better than ever. Every Tar Heel out there should rush out
there and begin their search. But those who aren't educated on finding
unclaimed assets could be in for a lot of frustration and wasted time, unless they
learn how NOT to search.

Most people seeking to reclaim their lost money think that if they can find a
website to input their name and click a "search" button, they've done all they
need to do. This couldn't be further from the truth. For starters, not all
databases are legitimate, and those that are can only be considered as good as
who updates them.

Suppose a person searches their name on Friday, but a state employee hasn't
actually added a record in that person's name until Saturday. The search would
obviously be unsuccessful, even though the person was owed money.
Unclaimed money lists aren't updated in real time, so searching frequently is one
of the best methods to implement if you would like to be confident in the results
of your search.

Out of date records aren't always the fault of the state. If the asset simply
hasn't been dormant long enough to be considered unclaimed, then it won't
have been turned over to the state. Strict laws dictate how found money is
handled in each state, so you won't issues like a bank turning over a bank
account after 6 months, simply because you hadn't accessed it. So again, a
lack of a record doesn't mean you aren't due a claim, and you should check
again regularly.

As was mentioned, there are differing "dormancy periods" for each type of
property, which commonly range from 1-5 years. This means that after periods
of inactivity exceed those dormancy periods, the companies who hold these
properties are required to turn them over to the state if they are unable to find
the rightful owner on their own. At this point, the state will act as a custodian,
essentially a "holder" until you claim your money.

There are countless problems, in addition to the examples of search issues
mentioned above that often befall new searchers, which makes it all the more
important that the people of North Carolina allow an unclaimed money expert
to provide them with a step-by-step guide for navigating the lost assets maze.

Unclaimed money and property expert Russ Johnson has been assisting Americans in finding their unclaimed money online since 1997. His site is http://www.unclaimedmoney.net which is updated regularly and offers guaranteed official searches for North Carolina unclaimed money and missing money across the country.

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South Carolina Unclaimed Money Grows To 200 Million Dollars

As of October 2007, it was determined by the Office of the State Treasurer of SC that the state is currently holding $200 million that belongs to citizens who need only step forward and claim it, if they can find it. Despite increased efforts to reunite South Carolina unclaimed money with its rightful owners, which lead to a record return of $900,000 in Sept. 2007, the pile of cash continues to grow.

Each year, South Carolina, like most states, continues to take in more money than it's able to return to the people. The primary problem is the fact that most people are completely unaware that these funds even exist, which is obvious, or they'd never have forgotten about them long enough for them to be considered "unclaimed". Even those who have learned about the billions of dollars in unclaimed property all across the country usually don't know how to go about finding them.

South Carolina is what is known as a "custodial state", which means that they never actually own your assets, they just hold them for you, and there is no time limit under which you must claim your cash. While there are dozens of different types of unclaimed property, the state treasurer lists the following as the most common types under the Palmetto Payback Program: "dormant bank accounts, uncashed checks (including paychecks), unclaimed insurance proceeds, forgotten utility deposits, uncashed dividend checks and unexchanged shares of stock."

SC unclaimed money is handed over to the state treasurer's office after long periods of inactivity. These periods are known as "dormancy periods", and each type of unclaimed cash has it's own. Some are only a year, while many years must pass for some types of funds to be handed over to the state. On top of that, a state employee must physically enter the account information in to their system if there is to be any public, searchable record. For these reasons, it is important that anyone who is serious about finding their missing money, search often and search on the right sites.

Some sites promise a database, but more often than not it's anything but reliable. Not only are they often out of date, but some are just down right bogus. These sites use "teaser" searches to hook a sucker by telling them they are due X amount of money, when that dollar amount is really completely random. Essentially it's a dishonest sales tactic.

In addition to knowing where to search, people also need to remember to search outside of South Carolina. Many folks have moved to South Carolina after spending their lives in many other states. Others may have always lived in SC, but if they had an insurance company out of state or the corporate headquarters of an employer is based outside of the state, then there's a good chance they're still owed money, but S. Carolina will never have any record of these funds. It is important to search the state records of any state where a person may have had any type of business dealings.

It can't be overstated, having the assistance of unclaimed money experts in your search for unclaimed money is vitally important. An expert in this field can help you overcome all the issues that plague many searchers, including the few mentioned in this article.

Unclaimed money and property expert Russ Johnson has been assisting Americans in finding their unclaimed money online since 1997. His site, http://www.unclaimedmoney.net is updated regularly and offers guaranteed official searches for South Carolina unclaimed money and missing money across the country.

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