Money You Don’t Know You Have

by Kim Tewalt on July 12, 2011 at 5:33 am

There is a chance you can collect money you may not even know about. It’s called unclaimed funds.

The Ohio Department of Commerce reports that there has been a 10.1% increase in claims paid out to Ohioans. Department of Commerce Director, David Goodman, says Ohioans received almost 61 million dollars in unclaimed funds during the 2011 fiscal year.

"After five years of inactivity, that money get transferred to the state of Ohio." said Goodman. "The state of Ohio then, through the Department of Unclaimed Funds, will actively seek you out with the information that is attached to that money."

An unclaimed fund is money or rights to money that has been dormant or forgotten. Goodman says the best phone call you can get from the state is that you have money you can claim.

"What we want to do, more than anything else, is reunite Ohioans with their money." he said. "It’s much better in your hands than it is in ours."

Goodman says in Muskingum County alone they have found over $170,000 worth of unclaimed funds, and they have had around 221 claims. He says this is a significant increase over years past. If you do have money to claim, Goodman says the next step is simple.

"Call the Department of Commerce, Unclaimed Funds division." he says. "You fill out a simple form, verifying that you are that individual and you can make a connection to the address that the fund is attached to, and we will send you a check."

To see if you or someone you know has unclaimed funds, click the Unclaimed Funds link to the left.