What was I going to do in retirement? That was a nagging thought that crossed my mind more than once.
Well, I discovered it!
Background. Each state has something called "unclaimed property" (UP)which will give me the opportunity to match up people with their valuables. Actually, UP is also known as abandoned property. It could be cash or the contents of a safe deposit box. Most likely it is cash. What is the origin of UP you ask. It could be as simple as a refund/rebate/deposit which the company can not get to you. For example, you have a deposit with the utility company. You move and the utility company can not determine your forwarding address. The company holds the funds for a given period of time a specified by the state. Once that period of time has been reached the company forwards the funds and information to the state UP office. They inturn account for the UP and post it to a database which appears on the web.
The web is where I became aware of UP. I was working on a project at work and discovered my retirement project. It is a project which has so many benefits. Matchng people with their money and giving me something to do in retirement and making me some money all at the same time.
However, there are some strange situations that can arise trying to match money with their owners. For example, I call the Hixson Funeral Home in Leesville, LA to give them the good news. I was barely into my speech when the lady said they were tired of crank calls and hung up on me! I thought - "WAIT! I am trying to give you your money!" Well, I cranked up a letter with the necessary information and sent it to them. I started the letter out with, "You can't hang up on me this time." Another example - I contacted a doctor here in Utah and the guy sent a letter back saying he didn't own any property at the address in the UP database as he only rented there. I fired back a letter explaining the situation to him in more detail. I did get an insight into how strange this might seem to someone - receiving a communication about UP - so I will include a definition of UP in my letters and hope for the best.
It is interesting to surf the various states UP databases You can see some very strange and interesting things. For example, California is holding money for the internal revenue service, NASA, DEA, Air Force, Army, Navy, Marines, Utah, etc. I found a record for Michaeline (only $4).
I won't run out of people and money to match up as across the US there are literally millions and millions of records worth billions and billion of dollars.
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2 comments:
It'd be great if you got something for all the work you've put into it. I wonder if the people you follow up with come through...
That's one of the coolest things I've ever heard of! I think it's great - too bad you can't be like the guy in "Bed of Roses" and see their face when they actually get the money and know it's theirs. You'll have to catalog all the responses you get, from funny to unbelieved. In this world I'm not surprised that so many think it's a prank. Hey, you get to use a lot of creativity too. Love you guys!
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