Usually it is because you switch houses and you do not fully update your new contact information with the “holder” of the money. If the holder of your money can’t locate you or you do not engage in any activity with your account, the holder sends it to the state government for safekeeping.
Another reason why the state is holding on to money is because the owner of it has passed away. Individuals should be encouraged not only to search their own name but for relatives as well. This money will sit in perpetuity until it is claimed. Please make sure your financial records are kept up to date so this does not happen to you. And leave a list of your accounts somewhere safe so that your heirs will know what you have in case you die.
I have been helping people discover and recover their unclaimed money for years and estimate I have reunited people with more than $25 million of unclaimed money. Now I want to help you help yourself with a new app that makes it quick and easy to find your unclaimed money. My new app is called iRecovery and it will be available in the iTunes store and Google Play store in June of 2018. The iRecovery app is a free download and search tool to see if you or someone you know has money out there that has gone unclaimed.
Once you discover your lost funds, you answer simple questions to prove ownership of the money. Once you have provided this basic information, the app will process the necessary claim documents for your review and e-signature. You will be able to easily identify what documents are necessary to submit your claim and upload them straight into the app. If you are unable to provide certain documentation to prove ownership of the funds, iRecovery will locate them and attach them to your claim at no cost.
iRecovery is the only app that allows you to search, file and track your unclaimed property claims all in one place. Identify unclaimed assets owned by your family and friends and share your findings with them so they can claim what’s theirs. Search deceased relatives to make a claim as their next of kin with the proper death claim documents that are generated by the app.
iRecovery was designed for the individual to get their money back with ease and simplicity all from your mobile device. Just download the app and start your search to see how helpful we can be. iRecovery was made by unclaimed property experts and designed for an easy, user friendly experience. Search as much as you like. There’s no wrong way to use it and nothing to lose to get started.
Check back to your client portal for updates and notifications on when your claim is approved and your money is sent. iRecovery will automatically update you with any new progress on your claim. You will always know where you stand.
Check the app store soon for the iRecovery app and see what money you may be missing out on!
Nick Anderson is a genealogist, heir hunter and skip tracer who is the Founder and CEO of Ironwood Asset Recovery. He founded Ironwood Asset Recovery as a response to the billions of dollars in money and other assets that go unclaimed by Americans each year. Nick has dedicated his career to reuniting private citizens and companies with their rightful property. Over the last decade, he has reunited clients with millions of dollars in lost assets and does not plan on stopping any time soon.
Guest Contact: Nick Anderson, Ironwood Recovery