5 Sources of Unclaimed Money to Check Out

Money mistakes can add up

Whether you’re saving for a deposit on a house, hoarding cash for a big holiday or simply trying to pay the bills, extra cash is always helpful. With billions of dollars currently unclaimed, you may be entitled to funds you didn’t even realize you had. Check out these five sources of unclaimed cash and see if you are missing out on money you’re owed…

1. Use State Services

All states are required to have a department designated to deal with unclaimed funds. Find out which department handles unclaimed funds in your state and contact them to find out how you can search for any funds you are entitled to. Often, a simply online search is all it takes to discover outstanding monies which can be claimed.

2. Check Old Investments

It’s likely you’ve got at least one of the following; old bank account, insurance policies, uncashed checks, stocks, mutual funds, bonds, pension funds or safety deposit boxes. If so, it’s worth checking any and all of them to see if there are any funds which haven’t been paid out. You may be surprised at how much has been left in old pension funds or bank accounts, and long-forgotten stocks could be worth a significant amount now.

3. Claim compensation for a personal injury

If you’ve suffered harm and you weren’t at fault, you may be able to take legal action. Depending on the severity of your injuries, you may be entitled to a considerable amount, so why leave this money unclaimed? Specialist firms, like www.schwinglaw.com, can provide all the help you need and you’ll even benefit from a free initial consultation. An unexpected injury can cost you thousands in medical bills and lost income, so it’s always worth pursuing your legal options after a non-fault accident or injury.

4. Get a Tax Refund

The IRS has over $1 billion dollars in unclaimed funds, so there are plenty of people who are owed money but have yet to receive it. With dedicated online services and phone lines, you can contact the IRS relatively easily and find out whether you’re owed a tax refund.

If you’ve worked part-time, for example, you may have paid tax even though you weren’t eligible to do so. In such cases, you should be entitled to a refund at the end of the tax year. It’s easy to check and easy to claim a refund if you’re entitled to, so why give the IRS more than you have to?

5. Look for Mortgage Insurance Refunds

Many homeowners paid into mortgage insurance policies every month, but these policies weren’t always sold correctly and some individuals weren’t even aware they had them. As a result, a considerable number of homeowners are eligible to claim a refund for mortgage insurance policies which were sold by an FHA-approved lender.

States, companies and organizations are making it easier to access unclaimed funds, so make sure you take the time to see if you’re entitled to anything. With billions of dollars currently unclaimed, obtaining the cash that’s rightfully yours could make a considerable difference to your finances.

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