The happenings "inside" the Wisconsin State Treasury and across the street at the State Capitol

Archive for July, 2013

FAQ Unclaimed Property: What Happens to Unclaimed Property When Owner Cannot Be Found?


WHAT HAPPENS TO UNCLAIMED PROPERTY WHEN THE STATE OF WISCONSIN CANNOT LOCATE THE RIGHTFUL OWNER?

The State of Wisconsin acts as a custodian for abandoned funds and holds these funds in perpetuity. In other words, there is no time limit for claiming your money from the State Treasury. If at any time you can prove ownership of legal rights to the unclaimed funds, the State Treasurer will approve payment to you or your heirs without charge.

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Wisconsin Saves Fun Tip: Save for Emergencies


The Wisconsin Office of the State Treasurer proudly teams up with WWBIC (Wisconsin’s Women Business Initiative Corporation) for “Wisconsin Saves.”  Each week, we will share with you a savings tip courtesy of WWBIC.WWBIC

Building an emergency savings fund is the top goal of American Savers. Nearly a third of savers who have enrolled locally or nationally have chosen “emergency savings” as their first wealth-building goal. An emergency savings fund consists of a small amount of money, usually in a savings account, that you do not have easy access to. Saving for this fund starts with small, simple, regularly scheduled contributions that build up over time.


Treasurer’s Top 5: Eau Claire County


eau claire chippewa valley cropsThis week, we travel to Eau Claire County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Eau Claire  County

George M Winarski

Thomas Baker

Muriel Edwards

Kenneth Jain Robert

Ronald and Linda Singerman


FAQ Unclaimed Property: How Can I Avoid Having Unclaimed Property?


HOW CAN I AVOID HAVING UNCLAIMED PROPERTY?OST Design large seal

Here are ten ways to ensure that your property is not turned over to our office:

1. Make sure that you update addresses with insurance companies, investor relations and utility providers.

2. Promptly cash all refund, rebate and dividend checks.

3. Respond to stock shareholder service requests for action.

4. Resolve insurance claims in full.

5. Identify co-owners or beneficiaries of financial and investment accounts.

6. Automaticwithdrawal for safe deposit box rental fees.

7. Purchase cashier’s checks and money order at finacial institutions where you have accounts.

8. Use store or vendor credits within 1 year.

9. Update financial/investment accounts following marriage, divorce, death of a spouse or name change.

10. Inventory type/location of financial assets and provide to trusted advisor/friend.



dunn county1

This week, we travel to Dunn County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Dunn  County

Chih Tsai Ming

Judith Toloken

Mumtaz Feroz Ali

Alice Burroughs

Leland Jones


Money Matters: Credit History


To get a glimpse of your financial future, many businesses look at your financial past. This history is contained in your credit report. Your credit report determines everything from whether you qualify for a loan and the rate you’ll pay on that loan, to renting an apartment and obtaining car insurance.  Our friends at at practicalmoneyskills.com walk us through the process.+

What Is a Credit History?
Your credit history is a financial profile. It lets lenders, landlords and employers know how you have managed money in the past and helps them decide whether or not to do business with you. This history is contained in a credit report that is kept on file by the three independent credit bureaus listed below. It may include such information as:

  • How promptly you have paid off credit cards and loans
  • How well you have handled paying other bills, such as rent and utilities
  • Your total outstanding debts
  • How much available credit you have on credit cards and home equity loans

Who Can See Your Credit Report?
Your credit report can and most likely will be reviewed by anyone planning to give you a loan or credit, such as banks and credit unions, credit card issuers, auto financing companies, and insurance companies. Your report also may be checked by landlords and potential employers. Some lenders may also use the details in your report to determine how much credit they are willing to offer you and at what rate. Anyone with a legitimate business need can access your credit report, though an employer (or prospective employer) typically requires your written consent to do so.

Beware of “Fast Fixes” For Accurate Credit Problems
If you’ve had any late payments, foreclosures, or repossessions, this information stays in your credit report for up to seven years. If you’ve filed for bankruptcy, this information can stay in your report for up to 10 years.

Some companies claim they can “fix” such problems for a fee. However, it is legally impossible to alter an accurate credit history. If you find yourself in financial trouble, contact a member agency of the National Foundation for Credit Counseling (NFCC), the nation’s largest national nonprofit credit counseling network, by calling 1-800-388-2227 or visiting www.nfcc.org.

Credit Bureau Contact Information
Once a year, it’s a good idea to check your credit report for accuracy, and you can do so for free through the three major credit bureaus. Get your reports at www.annualcreditreport.com or by contacting the bureaus directly:

Equifax
Report Order: 1.800.685.1111
Fraud Hotline: 1.888.766.0008
www.equifax.com

Experian
Report Order: 1.888.397.3742
Fraud Hotline: 1.888.397.3742
www.experian.com

Trans Union
Report Order: 1.877.322.8228
Fraud Hotline: 1.800.680.7289
www.tuc.com


FAQ Unclaimed Proeperty: What Efforts Are Made To Find Rightful Owners?


WHAT EFFORTS ARE MADE BY THE STATE TO FIND THE RIGHTFUL OWNERS?

The State Treasurer’s Office has a number of methods by which it tries to locate owners. Besides our annual advertisements in newspapers throughout the state, the State Treasurer’s Office cross-matches the names of unclaimed property owners with public record information retained by other state and federal agencies. The State Treasurer and her staff attend public events, such as the Wisconsin State Fair, SeniorFest, and other public events so that event attendees can search the Unclaimed Property Database and receive information regarding the claims process.

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