There are over 3.7 millions records waiting to be claimed!
Unclaimed funds consist of items such as bank accounts, uncashed checks, utility deposits, stocks and bonds, that have been turned over to the states unclaimed property division.
Funds can go unclaimed for a variety of reasons including never claiming a final paycheck, moving before getting your utility deposit back, not having an over payment on an item returned or not knowing about an insurance payment. The list of reasons is almost limitless.
The State of Alabama has operated an unclaimed money program since 1971. However, it only been a part of the Treasurer’s Office since 1996. The unclaimed money departments role is to:
(1) act as a consumer protection agency for individuals and businesses with unclaimed money
(2) indemnify businesses and allow them the opportunity to avoid the liability and expense of maintaining this money on their books
(3) promote awareness of the unclaimed money program and
(4) receive, evaluate & pay unclaimed money claims accurately and efficiently.
Since taking over the unclaimed money program in 1996, the Alabama Treasury’s office has returned over 345,000 claims.
Over $195 million has been returned by the State of Alabama to it’s rightful owners or their heirs. The average claim amount for 2009-2010 was $1,465.33.
You can search The State of Alabama directly for unclaimed money.
If you do find money owed to you, you can print a claim form and send it to:
Office of State Treasurer, Unclaimed Property Division, P.O. Box 302520, Montgomery, AL 36130-2520
Claims take an average of 6 to 8 weeks to process.
There is a little known business that lets you do that. Unclaimed money finders locate people that don’t know they money being held for them and help them to recover it.
In return, they charge a commission after the money is recovered.
Please click here if you would like to learn more about this business.