Massachusetts may be holding free money for you. It sounds too good to be true, but it's not. Read below to find out if you have free money waiting for you.
Unclaimed Property is money owed to people and companies that gets turned over to Massachusetts when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to Massachusetts as Unclaimed Property. Massachusetts would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.
Here's the important thing - you could have free money waiting for you!
Total Unclaimed Funds
Three Billion Dollars
Average Claim Size
$2,465 to $4,930
According to this January 2022 WWLP News article, the State of Massachusetts is holding over Three Billion Dollars in unclaimed funds.
Over Six Million people live in Massachusetts, so that means Massachusetts is holding over $493 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make Massachusetts's average claim between $2,465 and $4,930.
Some common examples of unclaimed propert include:.
Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For example, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.
See the table below for how many people and businesses in cities in Massachusetts have free money waiting for them. Currently we have records for money held in New York, but we'll add more states soon. Click on the city name to see detailed information about unclaimed property in that city.
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You can search for and and claim unclaimed assets on the Massachusetts's official webste.
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