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Forgotten Funds? Claim What’s Yours

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Money: we all need it, but so many of us don’t have quite enough to meet our wants and needs, and that can make life really tough.

If you’re feeling a bit short and you would like to top up your bank balance, you might want to look into the whole issue of forgotten funds. It is estimated that around $32 billion in unclaimed money is being held in the United States alone. It would be nice to have a chunk of that pie for sure!

Of course, not everyone is sitting on a pile of unclaimed money, but plenty are and that’s why it’s always worth checking out these common sources of forgotten funds:

Safety Deposit Boxes

Have you ever owned a safety deposit box It’s surprising just how many people have had and forgotten about them, and this is one of the first places you should look if you want to uncover some forgotten cash. The National Association of Unclaimed Property Administrators is a non-profit that can help you find money in long-lost security boxes and from other sources within your state, such as uncashed checks, and it’s pretty simple to do if you have a few moments and your Social Security number, so what do you have to lose?

Savings Bonds

Another common source of forgotten funds can be found in the Treasury Department’s Bureau of Public Debt in the form of savings bonds which have matured, but which have not been claimed. Many people forget they have savings bonds because they can take a long time to mature, and some are given them as gifts which they then proceed to forget about completely. There’s also the fact that, if a family member has died, you could be entitled to inherit their bonds, so it’s worth checking their Social Security number against the records too. Again, there is nothing to lose by checking this out.

Negligence Claims

If you’ve ever been injured due to an incident that wasn’t your fault, you may be entitled to make a claim for damages against the negligent party. All you have to do is hire a decent personal injury lawyer, and they’ll do the best. Often, they will work on a commission basis, so if you don’t win your case, you won’t be out of pocket. Why should you have to deal with all those medical bills, when the person responsible could and should be taking care of them for you?

The National Credit Union Administration

If you have ever been a part of a credit union, only for that credit union to fail, you could be sitting on some forgotten funds that you can get back from the NCUA, who take over failing credit unions. Check it out.

Get Your Tax Back

When most of us think of the IRS, we think about losing money, but it is possible to gain in your dealings with the tax man too. Often, things go wrong, and for whatever reason, people who are due a tax refund don’t get one. If you think you could be in this situation, it’s worth checking out the “Where’s My Refund” section of the IRS website, to chase things up, and hopefully get a boost to your bank balance in the near future.

Online Wallets

So many of us open Paypal accounts or buy Bitcoin, etc. only to forget about them and leave any money we deposited behind. It’s worth taking the time to think about any online wallets you may have set up, and then going back and checking them for any cash that may still be inside. If you’ve had Bitcoins sitting doing nothing for a while, in particular, you could be pleasantly surprised.

401(k)s

So many people forget to take their 401(k) with them, by rolling it over when they leave one employer for another, that you might want to try out the 401(k) search engine to see if you have a rogue 401(k) that could be reclaimed.

Life Insurance Policies

A staggering number of life insurance policies are turned over to the state because the beneficiaries cannot be tracked down, or they simply have no idea that a loved one left policy to them. It’s shocking, but life insurance companies do not have to track down beneficiaries themselves, so they don’t and the money languishes. Luckily, there are companies out there who will track down insurance policies for you, so if you have any inkling you could be a beneficiary, give them a call.

Gift Cards

How many times have you been given a gift card by a generous friend or family member only to put it aside and forget about it completely? We’ve all done it right? But those gift cards represent real cash, which is why it might be time to go through the drawers and track them down before they expire. If you don’t want to spend them at the designated store, you can always sell them on at a slight loss and still have plenty of cash.

Foreign Currency

We’ve all been on vacation only to come home with a wad of foreign notes that we can’t spend. The savvy amongst us hit the bank and have them changed immediately, but many of us don’t bother, leaving them lying around. A bit short, take those notes to the exchange-mart and turn them into cash you can really use – every little helps, right?

The Couch

Okay, so this isn’t an entirely serious suggestion, but you’d be surprised how much lose change you can find down the back of the couch, especially if you’ve owned it for a long time. Sure, some of it might not be legal tender anymore, but can you think of a better way to spend an afternoon?

As you can see, there are lots of forgotten funds to be found. Most of them can be located with a quick internet search or phone call, so what are you waiting for? Time to boost that  bank balance.

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