Unclaimed-Funds.com

KSPR reporter Joe Daues is latest to become hip to the heaps of Missouri unclaimed money:

They call it Missouri’s largest lost and found. A half billion dollars in money that belongs to people like me and you. It’s being held by the state of Missouri until the rightful owners or heirs claim it.

Scott Harper is the director of Missouri’s Unclaimed Property Division. His staff keeps track of nearly $500-million that Missourians have lost track of.

“It could be life insurance, uncashed payroll checks, utility deposits,” he says. “The fastest growing area of unclaimed property is securtities- mutual funds, stocks, and securities related property.”

The article also explains a bit about how MO unclaimed money works:

The state gets the money after 5 years if a bank or a company hasn’t paid you the money it owes you or can’t locate you… the law requires them to hand it over to the state.

To sum up, we’re talking about HALF OF A BILLION DOLLARS in missing money, that most Missourians are simply unaware of, and those that are owed a claim generally lack the knowhow to find it.

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The state of Missouri is seeking the rightful owners of MILLIONS OF DOLLARS in unclaimed money. Last year, more than $22 million in Missouri unclaimed money was returned to its rightful owners, and that’s only the beginning!

As with most states, the folks have trouble accepting the reality of HUNDREDS OF MILLIONS of dollars owed to them. This is one of the primary reasons that despite tens of millions of dollars in unclaimed money being returned, that’s just a fraction of how much is yet to be claimed.

KMBC in Kansas City recently explored Missouri unclaimed property, with a special look at unclaimed assets in abandoned safe deposit boxes. KMBC’s report ended:

Flink reported that the Web sites are constantly updated. Last year, Missouri gave back $22 million to rightful owners. In Kansas, more than $11 million was given back. But Kansas has $188 million still unclaimed.

That’s almost $200 million in unclaimed funds yet to be returned in Kansas, and although they don’t provide a dollar amount, we can safely assume that there’s even more in Missouri, based on the fact that MO gave back twice what Kansas did last year, and the amount returned is always tiny in comparison to what isn’t claimed.

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