Kane In Your Corner: Access to unclaimed funds

You could have missing money out there that you don’t know about.

You may have access to missing money you don't know about.

You may have access to missing money you don't know about. (10/16/15)

EDISON - You could have missing money out there that you don’t know about. 

Maybe it’s a refund you’re due from a utility company, a dormant bank account, or a payout from a long-forgotten insurance policy. There is nearly $42 billion in unclaimed funds across the United States, and a growing number of businesses are offering to collect those funds for a share of the proceeds, usually between 10 and 20 percent. But before you respond to a letter or postcard from one of those firms, Kane In Your Corner says there could be something they aren’t telling you: you can easily collect that missing money yourself, at no cost, simply by doing a quick online search.

“It may seem like a good deal – gee, I’m going to get some money back,” says Bob Russo, president of the Consumers League of New Jersey, “but you don’t have to do that.” Russo says firms offering to collect missing money for a fee are not breaking the law but they’re not to your advantage.

A simple way to check if you are due unclaimed funds is to go to www.missingmoney.com, which will link to you government websites in all 50 states and let you search multiple states at once. Not all missing funds are in that database. For example, if you lost a savings bond, the government would not know it was lost and would therefore not report the bond as missing. However, missing bonds, and most other unclaimed assets not found in the state databases can also be accessed through the Missing Money site.

advertisement | advertise on News 12

Trending Video

More than 1,000 runners dressed as Santa Claus 1 Santas run through Asbury Park for charity
VIDEO: News conference on arrest in murder of 2 VIDEO: News conference on arrest in murder of Sarah Butler
News 12 New Jersey - Weather On The 3 New Jersey Weather Forecast
As News 12 New Jersey has reported, Khalil 4 Vigil held for slain Montclair woman
5 Toys from 'Rogue One: A Star Wars Story' hit shelves

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE