Consumer Alerts

Watch out for online companies stating that they will search for your unclaimed property for a nominal fee.

Reason one: It would cost you a fortune to search for unclaimed property in your name, family members names, and deceased family members names as they charge the search fee per search and per name you search.

Reason two: How can you even be sure they are performing a thorough search if they are really even performing a search at all?

Reason three: Unclaimed property can be turned over at anytime to the State Unclaimed Property Division. Since some types of property can take up to 5 years or longer to be considered unclaimed or abandoned you will need to check every year to see if anything has came up in your name or a family members name. You can see how this could become expensive by having a company search for you.

Also watch out for online companies stating they have a database to all unclaimed property as there is no governmentwide, centralized information service or database on how unclaimed money and property may be obtained. Each individual federal agency maintains its own records.