(Part 1 of 2)

The state of Virginia is waiting for Virginians to step up and reclaim their missing money. The state currently sits on top of a pile of Virginia unclaimed money totaling in the tens of millions of dollars. More than twenty-seven million dollars was returned to residents of Virginia in 2005, but that's only a small slice of what's yet to be claimed.

VA, like every other state, continually takes in more unclaimed funds than it returns to citizens, primarily due to the fact that the majority of people simply are unaware of these funds, and the few that are aware, don't know the right way to locate them. There is a right way and a wrong way to search, and sadly most people have not been taught the correct way.

According to the Unclaimed Property Division of the Virginia Treasury Department, Virginia unclaimed property comes from a number of sources, which include (but are not limited to): savings and checking accounts, underlying shares, wages or commissions, credit balances, dividends, customer deposits, credit memos, gift certificates, refunds.

People don't have to currently live in Virginia to be owed unclaimed funds, particularly sense the majority of accounts must be dormant for one to three years before they are turned over to the state, and laws governing other types don't require that they be turned over for seven, ten, even fifteen years! Leaving the state does not mean you've forfeited the money at all.

(to be continued)

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