Have you ever lost money and claimed back? The answer for this question will most probably be ‘Yes’. Let me ask another question. Do you know that you have lost money and forgot to claim back? Now you may take some time to think about my question. If you are careful and detailed enough, you may remember some of the unclaimed money that you never bothered to ask back. If you live in the state of Alabama, you have the opportunity to get your money back through unclaimed money Alabama.
Let’s first have a look at how the money keeps accumulating in unclaimed money Alabama. Most of the people open bank account for different reasons. Once they reason is no longer valid, they just forgot the bank account they opened and move on to another. This usually happens when the bank account balance is quite low. But when this is done over a few years or few decades, there can be a substantial amount of money accumulated in these neglected bank accounts. Next, people keep security deposits that they forget to ask back. After a few years, these funds also end up as unclaimed money Alabama.
When it comes to unclaimed money Alabama, there is an act governing the whole process; Unclaimed Property Act of Alabama. According to this act, Alabama treasurer’s office should collect the unclaimed money Alabama and return it to the rightful owners.
If money or property stays inactive for more than five years, that money and property are labeled as unclaimed money Alabama. But the duration is different for checks and utility deposits. These two become unclaimed money Alabama after one year and two years respectively.
In case if you think that you have such unclaimed money, you should immediately contact the officials of unclaimed money Alabama. Otherwise, you may have issues claiming what you rightfully own. Every year, people actually lose their money when the government and other companies lose the tracking information of the rightful owners of unclaimed money Alabama. Losing track could happen due to many reasons such as incorrect addresses or other contact details, misspelled names, broken marriages, companies getting dissolved, unplanned migration to other parts of the country or to a foreign country, post office faults, and various other reasons. In case if you know someone who had moved in a hurry or died, unclaimed money Alabama may be holding money on behalf of them.
In order to find whether you have unclaimed money Alabama, you can go to the treasurer’s website and search the online database. Make sure that you use all the combinations of your names, including your maiden name. Indicate all your past addresses when searching as this is proven to be quite effective when search unclaimed money Alabama. Read More
