Unclaimed-Funds.com

It was just over a month ago that we pointed out that CA abandoned assets totaled $5.1 billion, but in just a few short weeks the state has added another $200,000 to bring the total to $5.3 billion, and counting, according Mercury News.

California is sitting on $5.3 billion in abandoned property, which it gets to keep until someone claims it. Businesses turn over about $500 million a year to the controller’s office.

And the battle over CA missing money between Cali’s controller, John Chiang, and the state itself, that we’ve discussed in earlier posts, rages on:

It’s not exactly in the state’s interest to work hard at finding the rightful owners, but that’s what Chiang has been doing. He has pushed for reforms to speed up the process, and he even wants the state to pay interest on the money.

Last year the Legislature expanded his authority to track down property owners. Deputy Controller Hallye Jordan said the office has sent out more than a million notices since then, and there have been many happy reunions.

In one case, a safety deposit box sent to the state in 2006 contained several World War II military medals, including the Medal of Honor. The controller was able to track down the war hero’s family and return the medals to them.

Read the rest of the Mercury News article which contains a personal found money story from the author, but the bottom line is that with the fight over CA unclaimed property, relying on the government to get your cash back to you isn’t going to cut it.

It’s time for anyone who might be owed lost assets to step up and get searching for your money today to be sure they find every last penny, and put it back in your own pockets where it belongs!

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This entry was posted on Thursday, May 1st, 2008 at 12:08 am and is filed under California, Found Money, Lost Money, Missing Money, Unclaimed Funds, Unclaimed Money, Unclaimed Payroll Check, Unclaimed Property, UnclaimedFunds, UnclaimedMoney, UnclaimedProperty. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.