Are you owed a share of $33 billion?
State treasuries and other agencies are holding on to
long-forgotten bank accounts, utility deposits and more.
Here's how to find money that belongs to you.
Last fall, Michelle Bixler received a letter from the state
of Pennsylvania saying it had a $35,000 check for her
from an insurance company. She thought it was a scam.
It had been nearly nine years since an on-the-job injury
had left her unable to work. The insurer that was processing
her workers'-compensation claim had gone belly up, so she
had assumed she'd never collect anything.
Before her accident, Bixler had worked for a Philadelphia tour
company driving a horse-drawn carriage. One day, her horse
reared and took off. Bixler injured her back and underwent
two surgeries. Afterward, her only source of income was meager
disability pay, and she moved in with friends. She learned, as she
puts it, "to stretch each nickel to a dollar."
In the meantime, the state picked up Bixler's claim and was
searching for her. After calling the state to verify the authenticity
of the letter, Bixler, 52, filled out the attached form, got it notarized
and sent it back. She still can't quite believe her good fortune.
"I must have a karma credit somewhere," she says.
According to the National Association of Unclaimed Property
Administrators, $33 billion in unclaimed assets is sitting in state
treasuries and other agencies just waiting to be claimed, and
the figure is rising every year.
Unclaimed assets -- accounts that have been inactive for at least
a year -- can include checking and savings accounts, payroll checks,
utility deposits and tax refunds.
They may also include stock certificates, certificates of deposit,
insurance benefits, pension payments and safe-deposit-box contents.
How does this happen?
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