New Jersey reaches out to owners of unclaimed money

More that 1.3 million people in New Jersey have unclaimed money that is still waiting to be claimed. WCBS news report said 200,000 inhabitants Garden State, New Jersey has unclaimed money from property tax refunds worth a whopping $ 200 million. It's quite amazing, considering the fact that New Jersey residents pay the highest property taxes in the country as much as twice the amount paid by residents of other states.

The government is trying all means to bring together the owners of the lost funds with their unclaimed money. He tries to reach out to New Jersey unclaimed money owners through all available media and in various campaigns that run through the print media, government sponsors the fair, and through electronic media.

In addition to tax incentives, New Jersey unclaimed money comes from proceeds from many other sources, such as forgotten bank accounts, outstanding checks payroll, insurance payments, stocks and bonds that have been languishing, unused checks gift, and even items from abandoned safe deposit box. New Jersey is also home to many foreign and immigrant workers. This diverse workforce tend to work on multiple jobs and had several addresses, and they tend to lose the mail checks or notices from banks and financial institutions.

Businesses and companies who are not owners of lost money and property after a "rest period" shall deliver unclaimed money to the state for "possession" as provided for in the National Unclaimed Property Law. People have lost money stored in the State Treasury to the rightful owners come to sue. The state also conducts outreach programs to try to let people know about New Jersey unclaimed funds. Last year, the New Jersey State Treasury unclaimed property advertising campaign some 36 000 residents were reunited with $ 85 million of their missing money.

Given the economic downturn the country is experiencing, in unclaimed funds worth more than $ 40 billion lying in the states of large drain on the government, given the fact that they must be kept safe and protected, if the owners of these funds is found. The fact is, not enough people to check the unclaimed funds, because most Americans do not even know they could have state unclaimed property in their name.