The problem of unclaimed money will come to and end only when you claim the money

The problem of unclaimed money is beginning to come under the spotlight. Every day, thousands and thousands of Americans are discovering that they are owed unclaimed money. However, merely finding the money is not sufficient. The money has to be claimed. The formalities have to be completed correctly in the first try itself. Otherwise, unnecessary delays will plague the process of claiming the money.

Once your search for unclaimed money is completed, you now have to claim the money. The procedure to claim the money is not very difficult or complicated. However, it must be initiated without delay and completed as early as possible. Delay in claiming the money can cause you to lose the money. The procedure of claiming the money may vary from state to state. However, certain aspects remain common.

The process is initiated by submitting the claim form. Each state or federal agency has a form in which the individual has to make the claim for the lost money. Good databases will provide your claim forms and information. The form must be filled properly and completely before being submitted.

The check repaying the unclaimed money cannot be sent unless the agencies are satisfied that you are whom you are claiming to be. You will have to submit proof of identification like the Driver’s License, Identification Card, birth certificate or social security card to prove your identity. The copies must be legible.

Whenever you are claiming unclaimed money, it is important to think like the person who is reviewing the claim. It is natural for that person to wonder- how do I know that you are the person who is owed money? How can I be sure that you are not just a person who has the same name as the person who is originally owed money? To answer these queries, you have to submit all forms and documents that remove all doubt.

If you are claiming money that you have inherited, then it is sufficient to simply submit proof of identification. You will have to show that you are the executor, heir or power of attorney of the deceased. This will ensure that the claim process is not a long drawn one.

Do not make the mistake of submitting all originals without duplicating them. Keep copies of all forms and documents that you submit. This will ensure that you can resubmit the documents in case of any mishaps. Further, it will be useful for reference at a later stage. Whatever you do, do not submit originals without keeping a copy in your hand.

Always remember that money belonging to you is in the hands of others. Do not sit back after filing your claim. Make sure you follow up on your claim. Claims may take two to sixteen weeks to be processed. The duration depends on the agency processing the claim. If updates are offered on phone or over the web, make use of them.