FRANKFORT, Ky. (6/8/14) — If you’ve had a claim for some unclaimed property that has gone cold because of a lack of proof or documentation, you may soon find an approved claim in your mailbox.
Kentucky Treasurer Todd Hollenbach has provided the hard working staff of the Division of Unclaimed Property some new technology that is reviving those “cold case” claims and moving others on a faster track.
“We are using the technology to process and approve old claims that have been held up because of a lack of documentation or evidence provided by the rightful owner to prove the claims,” Treasurer Hollenbach said. “The staff is going through all the old claims from the last three years where a letter was sent to the claimant requesting more information to approve the claim but the additional info was never returned. The Accurint software our staff is now using allows them to match up names, addresses and social security numbers on claims with little or no additional proof to approve the claims for payment.”
The Treasurer estimates these revived “cold case” claims that would otherwise have been discarded after three years for a lack of proper documentation, currently making up about a third of the claims paid each week.
Additionally, the Unclaimed Property staff created in the Treasury database, a list of unclaimed properties that include a social security number. Now, after the claims staff completes their normal daily duties, they are devoting extra time to proactively search the list and mail out claim forms to the individuals listed using the Accurint technology. “These individuals have not contacted us,” the Treasurer added, “We are searching for them."
The initiatives are part of Treasurer Hollenbach’s innovative Treasure Finders “120 in 120” project. The Treasurer has set a goal to conduct a Treasure Finders event in all 120 Kentucky Counties and return $120-Million in unclaimed property to the rightful owners. Currently the Treasurer has returned more than $107-million and will be visiting Letcher County and Knott County in the coming weeks as he continues to reach out to every county in Kentucky.You don’t have to let your claim go “cold.” Find out if you’ve got some unclaimed cash or family valuables coming to you by searching the unclaimed property database at www.MissingMoney.com.
Information provided by Mark H. Pfeiffer
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