Unclaimed money is money that has escaped the grasp of its owner. It can be hard to track down and reclaim, but there are steps you can take to get it back. These state-run programs will review your documents before issuing a check or instructing you to take possession of tangible items.
Every year, people leave billions of dollars on the table. They change their addresses, banks, and other service providers, and it’s easy for money to fall through the cracks. For example, you may find that your old cable company sent a refund check to your old address because you forgot to close your old checking account. Unclaimed money is a valuable asset, and you may be able to collect it with the help of Virginia’s Unclaimed Property Program.
Virginia’s Department of Treasury holds unclaimed money indefinitely, and it auctions off tangible items regularly. Proceeds from these auctions are then held by the state until the owner files a claim. Keep in mind that Virginia’s Department of Treasury will not store dangerous or flammable items, or any other items that might be considered illegal or obscene. It will also hold paperwork for up to 20 years.
Fortunately, claiming money in Virginia is easy and free. The first step is to visit the state treasury’s website. This site offers a special search function. Be sure to choose a legitimate state treasury website to avoid scammers. Alternatively, you can visit the National Association of Unclaimed Property for a list of links to state treasury sites. These websites contain step-by-step instructions and printable forms.