Unclaimed Property is money owed to people and companies that gets turned over to West Virginia 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 West Virginia as Unclaimed Property. West Virginia 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 Hundred Million Dollars
Average Claim Size
$835 to $1,670
Claims Per Year
Fifteen Million dollars
According to this April 2022 WSAV News article, the State of West Virginia is holding over Three Hundred Million Dollars in unclaimed funds.
Over One Million people live in West Virginia, so that means West Virginia is holding over $167 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 West Virginia's average claim between $835 and $1,670.
In just 2021, West Virginia returned an astounding Fifteen Million dollars to people with unclaimed money and property.
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 exampe, 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.
You can search for and and claim unclaimed assets on the West Virginia's official webste.
Back to State List
© 2022. All rights reserved.
© %= Time.now.year %> . All rights reserved.