A 14% increase in the return of unclaimed property across the nation would equate to an additional $8 billion being returned to owners.
Jacksonville, FL (PRWEB) May 15, 2015
Randy Hotz of Choice Plus, LLC, an unclaimed property reclamation service company, has spoken up about many issues surrounding state legislated unclaimed property laws. In his most recent article, he discusses the importance of change in how states approach returning unclaimed property to owners. Presently, states regularly discourage property owners from seeking the assistance of a professional unclaimed property company, regardless of the fact that in so doing, more property is reunited with owners.
“The Unclaimed Property Law has a dual objective: (1) to reunite owners with unclaimed funds or property, and (2) to give the state, rather than the holder (banks, insurance companies, securities brokers, etc.), the benefit of the use of unclaimed funds or property,” Randy states, that despite this being the purpose of the law, some state legislators appear to be more interested in making use of these unclaimed billions, rather than returning them.
“California and Florida laws allow for easy access to paid service providers,” the article reads. “Each of these states return approximately 14% more than the national average. A 14% increase in the return of unclaimed property across the nation would equate to an additional $8 billion being returned to owners. Even if owners paid an average 20% of their property to service providers, $6.4 billion would go directly to owners and $1.6 billion would go towards creating new jobs and related business expenditures.”
To read more about this issue and other important changes, visit Choice Plus, LLC.
About Choice Plus:
Choice Plus is a reclamation agency that provides professional and financial assistance to individuals who are entitled to received unclaimed money or property. They specialize in the administrative and judicial proceedings that are required to secure release of assets to their rightful owners. Individuals entitled to these assets can partner with Choice Plus to eliminate the work and uncertainty associated with the process and utilize their professional, experienced, and tenacious assistance. To learn more about their services, visit their website.
Choice Plus, LLC