A Pet Peeve – Worth Billions

10-13-2025

During research for one of my books, I discovered how much money states and the federal government were holding in trust for citizens.

When I wrote for Lost Treasure Magazine, my stories often focused on the mystery of buried treasure or hidden caches of coins. Readers loved tales of adventurers with detectors sweeping dry land or exploring shallow waters. We always wondered how that treasure ended up lost in the first place.

Ironically, in today’s information age, billions of dollars still go unclaimed every year. These funds don’t vanish; states take custody for safekeeping. Money disappears because life moves quickly, and people often forget about deposits, checks, or even savings accounts.

Think about your first apartment deposit or a utility company deposit. Did you ever reclaim it? Maybe you missed a dividend check or forgot the savings account Aunt Ruby opened years ago.

When companies lose track of customers or shareholders, the law requires them to send the money to the state. States then hold it in trust until someone claims it. The funds wait and earn interest, which the state then takes, and you will never see it. Furthermore, some states, such as North Carolina, distribute the money as loans. They’re taking money that doesn’t belong to them and loaning it out as scholarships. While that might be a noble cause, it’s not the state’s money to loan out; it is the people’s money!

So, what can you do? You don’t need to pay anyone a percentage to recover your money. Instead, search yourself for free. The process is fast and straightforward. The National Association of Unclaimed Property Administrators, a nonprofit organization affiliated with the National Association of State Treasurers, maintains an online database that covers 26 states, including the District of Columbia, with links to additional databases.

Lastly, here’s my pet peeve: I’ve asked elected officials at both the local, state, and federal levels to proactively contact citizens about this money. None took responsibility. When I was elected as a county commissioner, I personally paid over $5,000 to have an insert published in our local newspaper that listed the names of Pitt County residents collectively owed $1.2 million, of which the state held a portion. All the details were listed to help people contact the state and recover their money. No one ever thanked me for doing this, but I know it made a difference, and the local economy benefited as a result.

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