By now I would hope that mostly everyone has heard of finding unclaimed money. The truth is, there is so much unclaimed money out there it almost seems like it should be against the law to not find and claim it. Or that each state should be trying to find the rightful owners, right? Well they are. The problem is that they’re are only so many ways for each State Treasury to actually do this. Unlike winning the lottery many people nationwide don’t have a clue that they might actually have missing money out there so they don’t even look.
Government officials are going crazy these days as they struggle to manage billions of dollars in unclaimed money.
State and federal government treasury accountants can only sit and watch as piles of unclaimed money rolls in and piles up. Most people would say that unclaimed money piling up would be a great problem to have, but the state and federal government doesn’t think so. That’s because the unclaimed money can’t be used. It’s making anyone any richer and it can’t be circulated into the economy. It just sits there lying dormant and there’s only one thing anyone can do: it must be claimed by the rightful owners. Why is this unclaimed money problem so bad and why is it getting worse? The answer is actually a couple of reasons.