“Hooked on Overages” Mini-Course #3:

County-Held Funds – Our “Bread and Butter”

In the last mini-course installment, we explained why state-held unclaimed funds are almost always unprofitable – we’re restricted to as little as a 5% finder’s fee, and sometimes we even have to get licensed as a private investigator to legally collect these funds for others.

Plus, most people will check themselves out on their state’s unclaimed funds website when they hear from us – and make the collection on their own.

So, state unclaimed funds are usually “out”.

There are other agencies besides the state though, right? How about county agencies?

Could they hold unclaimed funds?

You better believe it.

When we work the county unclaimed funds that are available, in most cases we’re not subject to the laws that govern state unclaimed funds. Funds often have to sit at the county for 1, 5, or even 7 years before they become subject to finder’s fee limits or licensing requirements.

During that period, we can usually collect these funds on behalf of the claimant, and be free of any restrictions we may encounter with state-held funds.

Best thing of all? Once we find the county agency holding these funds, and make a proper public records request, the agency MUST give us their records of unclaimed funds along with any claimant information they may have, including name and last-known address.

How do counties possess unclaimed funds? Lots of ways. We’ll talk about that next.

Today’s Featured Video:

“Competition in the Found Money Business”