Millions of dollars waiting to be claimed in North Carolina: Check to see if you're owed money
RALEIGH (WTVD) -- There are literally millions of dollars waiting to be claimed in North Carolina's unclaimed property fund. There could be money due to you and you don't even know about it.
The state of North Carolina has nearly $800 million in unclaimed cash, goods, stocks, and other abandoned funds that are just waiting to be claimed.
All you need to do is head to NCCASH.com, and search your name to see if you have any cash waiting to be claimed.
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The North Carolina Department of State Treasurer oversees the Unclaimed Property Division (UPD). If you find your name on the list of people with unclaimed cash, you just fill out a form, and once the claim is processed the money will be sent to you. Normal processing time is 90 days, but during COVID-19, processing times have been longer.
When ABC11 got a list of some of the top people owed money in our state, we connected viewers with hundreds of thousands of dollars they had no idea belonged to them.
However, thanks to a new state law, paperwork requirements are waived on claims valued at $250 or less. If that's you, you don't need to take any action to receive your money, instead, you'll get a notification letter in the mail and a check will be issued in six to eight weeks. According to the state, UPD expects to pay 25,000 expedited claims worth $1.4 million in six months, with a long-term goal of paying at least 50,000 claims worth about $2.8 million every year thereafter.
The State Treasurer's office says UPD will proactively research records and identify qualifying claims of $250 or less. State Treasurer Dale Folwell says: "There are more items waiting to be claimed than there are residents of North Carolina, so the chances that there is unclaimed property with your name on it are very good."
One ABC11 viewer reached out to Troubleshooter Diane Wilson for help with his sister's claim as she had more than $14,000 in the state's unclaimed cash fund. He said they've been trying for three years to get the money, and after our involvement, they finally got their money. A representative with the treasurer's office said it took so long because the process to get the funds was started several times, but never finished by the applicant.
If you do have a claim valued at more than $250, you will need to fill out the proper paperwork. The representative adds that there are specific guidelines and timetables for filing and processing claims and utmost care is taken to follow the law and procedure to ensure the property is released to the proper owner.
What do you have to lose? Who doesn't like to find unexpected cash owed to them? Don't just search your name, but also your maiden name, and relatives along with friends and if you find their name on the list of people with unclaimed funds, let them know.
