Illinois Unclaimed Money Nearing $3 Billion

Chicago Unclaimed MoneyThanks in large part to the large city of Chicago and surrounding areas, Illinois unclaimed money and unclaimed property accounts total over $2.9 billion.  In the last two years alone, Illinois Treasurer Mike Frerichs’ office and their Illinois Unclaimed money department returned over $300 million in unclaimed funds to its rightful owners.  According to a report, 1 in 4 residents of Illinois have a claim in the state’s unclaimed money database.  There is no charge for claiming these unclaimed funds and searching is free!  These Illinois unclaimed money accounts can also be for local businesses, non profits and local governments in addition to the residents of Illinois.

Illinois Unclaimed Money Now Easier To Claim

According to a recent article, Frerich’s office has now made it easier to claim unclaimed money online.  Illinois residents can now file online and the claim process will allow for some auto approvals for lower dollar amount unclaimed property claims.  This will greatly streamline the process of getting people their money back in a timely manner.  In some states this can take weeks if not months just to approve the claims, even before a check is cut.  People online are already skeptical of unclaimed money and unclaimed property and any attempt to make it easier will allow for more claims and therefore more unclaimed funds returned to their rightful owners.

Illinois Unclaimed Property Representative To Provide On-Site Searching

According to the Chicago Tribune, state representative Deb Conroy and US Congressman Raja Krishnamoorthi will host ‘mobile office hours’ at a Library in Carol Stream, Illinois on January 22nd, 2018.  They will be joined by a representative from Treasurer Mike Frerich’s office to help residents search the ICash system for Illinois unclaimed money and unclaimed property claims.  These claims can include checking and savings accounts, uncashed wage and payroll checks, uncashed stock dividends and stock certificates, insurance payments, utility deposits, customer deposits, accounts payable, credit balances, refund checks, money orders, traveler’s checks, mineral proceeds, court deposits, uncashed death benefit checks and life insurance proceeds.

Illinois State Page

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