(Part 2 of 2)

The total amount of unclaimed money in California averages five billion dollars annually – imagine the amount of interest this earns for the state! Bill Palmer, an attorney in Sacramento who has battled in a number of cases involving California unclaimed funds, has said that the state’s program was supposed to be a lost and found for California residents. Instead, it has been turned into a profit earning ‘business’ in the past few years.

The hold on the seizure of property by CA has now been lifted and the new CA State Controller, John Chiang, is making extra efforts in the form of sweeping reforms in improving how his office is handling California unclaimed money. There’s still a great need though for Californians and Americans in all states across the U.S. to be informed about the presence of these properties and on how to do a thorough search for them and take back what belongs to them.

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