We all have received a call from someone promising us we have money owed to us or have won some sort of ‘prize’. These are usually ignored, but a California woman got a call from an unclaimed money finder and it paid off big time.
Bay Area resident, Julie Courtney has been in real estate for over 15 years, according to a report. Her business is selling foreclosed homes for a bank, and she frequently would invest money in these homes to improve them prior to putting them on the market. Long story short, she submitted an expense report and 5 days later the FDIC shut down the bank. Another bank purchased the failed institution and they refused to reimburse Julie.
Unclaimed Money Finder Saves The Day
Fast forward ten years and Julie had all but forgotten about the expenses owed to her. Then her phone rings and the caller asks if she filed a claim against the bank in 2009 with the FDIC. This peaked her interest and she continued the call when many of us would have hung up.
The unclaimed money finder then referred Julie to the FDIC website and asked her to check her claim status. She was able to see that a check for her expenses was issued and mailed, but to an incorrect address. She then called the FDIC and they reissued the check for the full $58,000 she was owed. The finder did not work on commission, but did request a 10% tip for helping Julie find the money. She gladly complied, mailing a check for $5800 to the finder.
What Are Unclaimed Property Finders?
Each state has different regulations for unclaimed money finders, or investigators as they’re called in California. This state does not require the investigator to be licensed, but will ask for some basic information about their business, such as physical address, employee list, and each employee’s photo ID.
California will also help with the agreement used between individuals and the finders. This helps with credibility since this is an official state document. They also cap the amount finders can receive for their help at 10%. That amount can be negotiated and in the case of Julie it can be a suggested amount.
Be sure to pay a little closer attention to all those spam calls. Sometimes it can pay off BIG!