You may be owed unclaimed money - WMC Action News 5 - Memphis, Tennessee

You may be owed unclaimed money

(Source: WMC Action News 5) (Source: WMC Action News 5)
MEMPHIS, TN (WMC) -

In 2015, The National Association of Unclaimed Property Administrators estimated that there was more than $42 billion dollars in unclaimed funds.

The association said the funds are accounts that have no activity generated or contact with the owner for more than a year.  These accounts are most commonly savings or checking accounts, stocks, or any other kind of securities.

A lot of times you may not even realize you are owed property or money.  The experts also suggest that you do not pay for services to find unclaimed assets; a lot of these are free.

To find the money you're owed, you can check several places.

First, look at your tax refunds. The IRS may owe you money if your refund was never claimed or delivered.

Look at savings bonds. The ones that have stopped earning interest will get you cash.

Last, check for bank failures. Check the Federal Deposit Insurance Corporation for unclaimed funds from failed financial institutions.

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