Is some of your cash waiting to be found, and not just the nickels and quarters lodged beneath the sofa cushions?
Missouri’s state treasurer, Clint Zweifel, was in town the other day promoting some consumer-friendly ideas, one of which his office calls Missouri’s largest lost and found. The treasurer’s office maintains the unclaimed property program – an old, forgotten bank account, for example – and two statistics Zweifel tossed out were eye-popping.
First, one in 10 Missourians has some sort of unclaimed property. Second, the average of such claims is $365.
“It’s worth checking,” Zweifel says.
Up to now, if you found something in the program, you had to fill out a paper form, and sometimes folks figure 10 or 20 bucks isn’t worth the effort. Zweifel’s office is changing that, making it easier to follow up.
“I think the paperless process will be transformational,” he said.
Go to www.treasurer.missouri.gov/mainucp.asp.
Zweifel’s office also runs a program that helps parents save for future college costs, and it runs the Missouri Linked Deposit Program, which provides low-interest loans to farmers and small businesses. Go to www.treasurer.missouri.gov.
Another state official, Attorney General Chris Koster, is again warning consumers to be careful about all of those “too good to be true” offers that find their way to you.
Because they probably are.
This is National Consumer Protection Week, and Koster is sounding off on a scam of the day. On Monday, for example, it was the foreclosure “rescue” scams that have mushroomed since so many people are in danger of losing their homes, some 5 million nationwide.
Koster has been in office for a little more than a year and says his office has gotten 321 complaints about foreclosure scams, compared with 25 in 2007 and 2008 – combined. His office has taken legal action against eight businesses and is investigating others. His office says to beware of those who toss around terms such as “foreclosure rescuer,” “foreclosure service,” or “mortgage consultant.”
The AG is working with NeighborAmerica, which outlines six red flags:
1. The company asks for a fee up front in order to work with your lender. “They may pocket your money and do little or nothing to help you save your home from foreclosure,” NeighborAmerica says. Such up-front fees are illegal in Missouri.
2. A guarantee that the company can stop a foreclosure or get your loan modified. Legitimate counseling agencies will only promise they will try their best.
