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State Reports Surge In Unclaimed Property Requests

Unclaimed Property Division Handling Thousands Of Claims

POSTED: 5:19 pm EDT August 16, 2010

The state's de facto lost and found division is reporting a spike in Hoosiers seeking out unclaimed property.

The Attorney General's Office Unclaimed Property Division, which operates out of an office complex in Greenwood, is handling a surge of claims totaling nearly $13 million, 6News' Rafael Sanchez reported.

The department has shifted people internally to review the mounting requests as they come in, but said the process is being slowed by people who fail to provide complete, notarized claim forms.

"It would make the process more efficient if people provided all their documentation. On average, only 25 percent do. A lot people then lose interest and give up on their claim," said Becky Yuan who oversees Unclaimed Property. "We have to follow through and ask them to provide additional paperwork to complete their form."

Last year, the department processed 32,850 claims and distributed $18,852,516 to Hoosiers. It currently has $350 million waiting to be returned.

There is no fee for getting unclaimed funds. Private companies are allowed by law charge up to 10 percent of a claim to do the searching.

Unclaimed Property officials have up to 90 days from the day they start on a request to provide a response.

More Information: Indiana Unclaimed
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