I like going to my state’s unclaimed assets website (I think all 50 states have them, I think). I like to look up the last names of endless varieties of people. Classmates, friends, family, people I barely know, coworkers, etc.
Sometimes I find stuff, usually not for people I actually know. And when I do it has usually been under $50. However when looking up people I usually find individuals with names and addresses who have a decent amount in assets, lots of people have $500+.
I was thinking of writing up a form letter to send to people who have at least a moderate amount of assets (at least $500, maybe $1000 minimum) to let them know to check out the site and try to claim their assets. As an example, while looking up the last name of someone I used to know I found someone who has over 10k in unclaimed assets from various accounts. People who have 10k+ in assets are moderately hard to find, but they are out there.
So if I did send out a form letter how could I send it out so that it doesn’t sound like a Nigerian prince scam, and how can I make sure that the person I send it to doesn’t think I have ulterior motives? Plus there is the fact that I assume many of the people either aren’t living at the addresses listed, or they are dead or something.
The only reason I know about these sites is because my dad got a postcard a few years ago from someone doing the same thing, he was looking up names and alerting people who had at least a reasonable amount of money. I don’t remember what he said on the postcard (I think just letting my dad know he liked looking at the site, and liked alerting people who had reasonable amounts to claim), but my dad claimed his money and we were better off for it. Money is nice.
I got such notices a couple of times when I lived in Florida. Both times it was from a law firm claiming that they could help me get the money for a modest fee. After a bit of searching on the web (pre-Google days), I found the state website that had all of the info and I could get the money without the outside firm.
Both times it was a grad school pay check that came in at the end of the first semester, right around Christmas time. The grad students would typically pass by the office and pick up the physical paychecks from the admin. Being close to Christmas and not keeping close track of when paychecks came in, I didn’t get around to picking up the check. And the admin didn’t put a whole lot of effort into finding me to give it to me.
If law firms are going after these people, my gut feel is if someone has over $10,000 in unclaimed money then they are gone.
Also, email is cheaper than postcards. If that is available.
My short, smug answer was going to be “you can’t”, but if you are simply informing them and not asking for anything in return, I don’t know why they would think it was a scam (what have they got to lose?).
Of course, even getting someone to check a website could be tough, if they suspect that it’s a bogus site that will install viruses or malware on their computer, but I think most of these sites are based on the state treasurer’s, correct? That should lend some legitimacy.
If you’re really committed, start a non-profit org* with the stated purpose of reunited people with their lost funds. A rogue letter in the mail might get my hackles raised, but a postcard from an established organization that has a good reputation they would be more likely to trust.
THEN you screw em.
- I have zero idea on how even to begin to do this