Missouri Unclaimed Money Totals Almost $500 Million
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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