Most of the Times a financial institution can hold money that belongs to you but cannot deliver it for whatever reason. This financial asset can come from a lot of sources, like insurance payouts, uncashed checks, abandoned brokerage accounts, bank accounts, and uncashed paychecks.
What happens when a financial institution cannot locate you is that they turn over the money to the state where the account was held (which in this case is Michigan). What the state does is to hold the money until you are able to claim it. If after duration of time you are unable to do so, the money becomes the property of the State. . In the course of this article, we would be looking at the resourceful information that relates to “Unclaimed Money Michigan”.
Here are some of the ways that you can recover unclaimed money in Michigan State.
Go to the unclaimed property site of Michigan state
- Get your documents in order
- file a claim for your money
- wait for your check
Go to the unclaimed property site of Michigan State
The first step to recovering your abandoned money in Michigan State is to visit the state government website for unclaimed properties. Therefore, in a few clicks of a mouse, you can claim lost or abandoned money in Michigan. On the state government website, claimants have access to enhanced search options. You can also check out for previously filed claims, file new claims, and as a plus verify documentation electronically. In time past, claimants used to file claims via mail and provide documentation through the US Postal Service.
Get your Documents in order
If you have money that is missing or abandoned in your name, you would have to verify your identity via the online platform provided by Michigan state government. In Michigan state, you have to get a state issued ID like your Drivers license, proof of social security number like a copy of your social security card or IRS Form W-2. Another compulsory document that would be provided is the proof of address; example your utility bill.
File a claim
This is the third and most important step and must be done online. In times past, the Michigan state accepted applications from claimants via mail, but today, they have a state-of-the-art-new website. Visit the official website of the Michigan state unclaimed property and follow the guidelines given there.
Wait for your Check
When you are done with submitting documentation for your application electronically, you will have to wait for your check to arrive. As a claimant, you can also call the Michigan Unclaimed property at (517) 636-5320 between 9 a.m. and 4 p.m. on weekdays. You application might take up to two weeks to be responded to, and in some cases, more than six months. In some cases, you might never truly know how much money you are getting back. It is rest assured that you are eligible for your money, if have followed the instructions provided. If that is the case, you would receive a correspondence from Michigan state unclaimed property division, followed by the money.