HARRISBURG, PA – Dec. 31, 2007 – Each year, the Pennsylvania Treasury Department receives millions of dollars in new unclaimed property and you may receive a letter in the near future that entitles you to some of it, according to Treasurer Robin L. Wiessmann. This annual letter campaign is just one of many methods Treasury employs to seek the owners of over $1 billion in unclaimed property.
“Each time we open our mailboxes, it seems we are bombarded with more and more junk mail and phony promises made by scam artists,” Treasurer Wiessmann said. “I want to reassure consumers that letters sent by the Pennsylvania Treasury Department are not scams, but rather one of the many ways we are constantly working to help you claim what is yours.”
As dictated by state law, Treasury sends these notification letters to owners of property valued at $100 or more that was turned over to the Department in the last twelve months. The letters are sent to the last known address of the owner, informing the owners that they may be entitled to unclaimed property held by Treasury and providing information on how to make a claim.
The names of owners who do not file a claim as a result of this letter campaign will be published in newspapers in the counties of their last known addresses in the spring of 2008.
Remember, you don’t have to pay to claim what is yours! Treasurer Wiessmann encourages all owners to contact Treasury before signing any type of agreement with a “finder.” A finder is someone who charges a fee (up to 15% of the claim amount) to help you recover your unclaimed property. Treasury staff will assist you free of charge and you will receive 100% of the value of your property.
Consumers can claim their property by calling the toll-free claims hotline at 1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m. To submit a claim by mail, simply fill out the coupon attached to the bottom of the letter and mail it to: Pennsylvania Treasury Department, Bureau of Unclaimed Property, P.O. Box 1837, Harrisburg, PA 17105. Individuals may also visit Treasury’s website at http://www.patreasury.org/ and enter their name into the free Unclaimed Property Database to download claim forms.
Each year, Treasury receives millions of dollars in unclaimed property from abandoned bank accounts, forgotten stocks, checks that have not been cashed, certificates of deposit, life insurance policies, safe deposit boxes, and other sources. Treasury maintains custody of this unclaimed property until it is returned to its rightful owners. In 2007 (as of 11/30/07), Treasury reunited nearly 60,000 owners with their unclaimed property, totaling more than $80 million.
The Pennsylvania Treasury Department, under the leadership of Treasurer Robin L. Wiessmann, acts as the Commonwealth’s bank, serving as custodian, investor and disburser of the Commonwealth’s funds. Treasury also offers a wide range of programs and services to Pennsylvania families, such as helping to make college possible with the nowU Pennsylvania College Savings Program; returning abandoned and unclaimed property to its rightful owner or heir; offering Pennsylvanians an alternative to payday lending through Better Choice; and funding energy efficient home improvements through the KeystoneHELP low-interest loan program. For more information about Treasurer Wiessmann and the Pennsylvania Treasury Department, visit http://www.patreasury.org/.
