Money: October 2009 Archives

A lawsuit filed by several states could be heard within weeks. The states are seeking billions of dollars from the federal government in unclaimed bonds.

The bonds began being sold to raise money during World War II. Most American families bought at least one bond with the understanding that they wouldn't be paid off for 40 years.

However, according to the Associated Press, "More than $16 billion worth of the bonds are unclaimed, either lost or forgotten about with the death of the original purchasers."

You can always check to see if you have bonds that have already matured here.

Six states--Kentucky, Missouri, Montana, New Jersey, North Carolina and Oklahoma--are suing for the rights to the unclaimed money in part because they all have unclaimed property departments. The lawsuit argues the states can try to locate families who are owed money--something those states say the federal government is not doing.

The bottom line is those states also want to earn the interest on that money. According to the Los Angeles Times, "Some states, such as California and New York, stand to reap as much as $1.6 billion, according to figures compiled by the states based on federal data."

You should do a search at least every year to see if any state has money you may be owed. States update this information yearly that's why it's a good idea to check at least once a year. I've used this site numerous times and have even found money for friends and family.

You can also go here to find individual states' unclaimed property web sites. Remember this is free, you do not need to use pay sites to get your money. However you may be asked to provide specific information including your social security number in order to make a claim.

What do you think about this law suit? Should the federal government be doing a better job locating bond holders?

Or should the states get the money and then try to locate people? Add your thoughts below.

And let me know if you find any money.

Comments (0)

Categories: Money |

---

Luckily in Central Texas we don't use our heat that often.

But for those that do, there may be some early good news for the upcoming winter season. The Energy Information Administration says it looks like it will cost families less to heat their homes this winter.

Lower fuel costs and an expected milder winter means the upcoming season could be about 8 percent cheaper compared to last year.

The report says,"Households are expected to pay an average of $783, nearly 12 percent less than last winter, for natural gas, and $1,821 for heating oil, about 2 percent lower. People using electric heat will pay $933, a decline of 2 percent and those using propane $1,667, or 14 percent less than last winter."

The biggest savings will be seen by users of propane. Those families are expected to save an average of $280 this winter about 14 percent less than last winter.

The report covers the winter period from October through March.

Comments (1)

Categories: Home | Money |

---