Palonek Helps Californians Find Cash after Christmas to pay those Credit Cards Bills

Dec. 30, 2009 - PRLog -- Palonek Helps Californians Find Cash after Christmas to pay those Credit Cards Bills

Are you one of the people in California that promised yourself not to over spend during during Christmas shopping but couldn’t resist all those sales before and after Christmas. Now you find yourself wondering how you are going to pay off those credit cards once your statements start to come in the mail next month. You will be happy to know that there may be way to pay off that debt by the click of your computer mouse.

Palonek, founder of Foundmoney.com, a company specializing in helping people find unclaimed money, since 1994, says that you may be one of millions of Californians owed money by the State.

John Chiang, the Controller for California says that from January 2007 through the end of 2009, his office sent out 3.17 million notices, which consisted of 1.27 million letters that were warning owners their property was about to be sent to the State, and another 1.89 million notifying owners their property had been sent to State.

Last year, California passed new unclaimed property rights to protect owners of such property. Financial institutions can no longer send the contents of "abandoned" safe deposit boxes to the State if the owner has other active accounts. It also prohibits the transfer of other “inactive” accounts if the owner has an active IRA. In addition, a business must prove they sent due diligence notices informing owners that their property was about to be sent to the State if they want to avoid any liability.

According to Palonek, this part of the provision found in the new legislation now gives unclaimed property owners an important legal remedy that will protect them if they suffer any loses due to the business' failure to properly notify the owner of the unclaimed account.
“Many folks could use some extra cash right now to pay off those credit card bills and Foundmoney.com wants to help give Californians get back their unclaimed accounts”, says Palonek.
The State of California is currently in possession of more than $5.7 billion in Unclaimed Property belonging to approximately 11.6 million individuals and organizations.
The most common types of Unclaimed Property for Californians are:
•   Bank accounts and safe deposit box contents
•   Stocks, mutual funds, bonds, and dividends
•   Uncashed cashier's checks or money orders
•   Certificates of deposit
•   Matured or terminated insurance policies
•   Estates
•   Mineral interests and royalty payments, trust funds, and escrow accounts.
California Unclaimed Property Law does NOT include real estate property.
You could be one of those lucky Californians that have money just sitting there waiting to be claimed. Don’t delay, start your search, you could be richer that you think

Contact
Foundmoney at www.foundmoney.com
Edward Palonek at www.edwardpalonek.org

# # #

Each year, 1,000's of people lose track of their bank accounts, cash, stocks, bonds, refunds, royalties, safe deposit boxes and other property. Losing sight of property can happen to anyone. Foundmoney.com helps people re-unite with their unclaimed money