Huntington Beach, CA (PressExposure) December 22, 2009 -- A secret way to get free cash for Christmas has been revealed. Most American households would welcome any free cash this Christmas. The season of gifts has been economically challenging for the American population with the economic slump refusing to ebb.
While the credit card debt and mortgage loans have been mounting for most US households, there is no respite as way of tax credits and exemptions from the federal or the state government. So, any additional cash this Christmas season would not only bring cheer into their lives but also help a lot in circulating more cash in the economic cycle. Well, there might be some good news from a much unexpected quarter - You might be entitled to some unclaimed cash which is lying with the federal or state government and which might actually be yours.
Gift cards are the most popular mode of gift exchange during the Christmas and holiday season, but it is a very less known fact that a huge amount of cash is lying in the state and federal treasuries because of the unredeemed gift cards. Since, there is no way of tracking the owner or the recipients of the gift cards, these monies find their way to the state escheatment funds. That is good news for the US population this Christmas, as this cash might just be yours if you had the details of the gift card with you. Unclaimed gift-card cash can be claimed this Christmas season by looking into the database of unclaimed cash. There are a lot of state and federal databases and sites which assists US residents in finding their unclaimed cash and property. In addition to these government sites, there are a few very reliable and exhaustive databases for unclaimed cash and property.
Unclaimed gift-card cash reserve is piling up at a rapid pace and it is estimated to reach $8 billion this year. The statistics of 2008 reveal that almost $80 billion was spent on gift-card during the Christmas holiday season. By law, this unclaimed gift-card fund is included under the state unclaimed property. This facilitates the reclaiming of these funds by the US residents even after the card has expired. This Christmas season might bring a lot of good news for US households if they can reclaim these cash from expired gift cards.