State Treasury departments across the nation have declared Wednesday National Unclaimed Property Day, which may sound bureaucratic or frivolous but could help you reclaim some money that’s gone missing in your pocket that you didn’t even know was there. For example, you can search for Unclaimed money michigan free on the official state website or other online platforms.
What constitutes unclaimed property?
Each state maintains an account for lost and found funds you may be unaware are yours.
Michigan’s state treasury department holds millions of dollars worth of assets that were once considered abandoned or lost and given back to them, such as dormant bank accounts, uncashed checks, valuables left in safe deposit boxes or stock certificates. All were turned over as required by law once determined abandoned or lost.
When these assets are rightfully claimed by their rightful owners or heirs, the state reunites them.
Step one is to assess what exists.
Where can I claim my money or property?
To see if you own money or property that’s been left behind in one or more states, visit UCPday.com or directly access Michigan’s Unclaimed money website which provides free search options as well as the capability of uploading documents for verification.
Call 517-636-5320 Monday through Friday between 9:00 am and 2:00 pm to speak to an advisor.
Do I owe any costs or payments?
Detroit Free Press Columnist Susan Tompor wrote of her own search for this lost treasure, which included $18 she found on an old prepaid card and assets belonging to friends and relatives – such as lost paychecks, unclaimed payments and insurance-related payouts.
Looking for cash?
Search Michigan’s unclaimed money database.
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She also noted that you don’t need to pay anyone to locate unclaimed property, although some lawyers and firms may try to charge fees “to help” retrieve it for you. They send letters out of nowhere claiming to specialize in finding owners of old financial receivables as well as assisting their recovery for a fee.
She noted that the Better Business Bureau has long warned of outfits offering to find unclaimed money on your behalf, encouraging you instead to “keep your wallet in your pocket – you can find unclaimed cash yourself without spending a penny.”
Tompor cautioned, “Never pay upfront to any of these companies,” she advised, and do not enroll in services offering to keep you up-to-date on missing money for $30 or so a month – that’s simply handing over more hard-earned cash than necessary to someone else for something you could easily do yourself for free.
How did this ‘holiday’ begin?
As with other days to promote products or ideas, this one began in 2021.
National Unclaimed Property Administrators created National Unclaimed Property Day on Feb. 1 as an effort to inform 33 million American, or roughly one in 10 residents, they possess unclaimed property that they could claim at any time throughout the year. No need to wait – start looking now.
Reach Frank Witsil by telephone: 313-222-5022, email or at fwitsil@freepress.com.