Huntington, CA (PressExposure) October 24, 2009 -- Unclaimed money owed to US citizens dates back to even World War II and in some cases much earlier times. World War II saw the emergence of an economically superior America and at the same time a first time experience of the economic uncertainties accompanying a global war.
Most of the American families resorted to buying federal bonds in order to safeguard their economic interests. This bond buying frenzy was the result of 40-year maturity period of these bonds. Federal government was in need of money because of the war and it continued to sell these 'Series E' war bonds up until the late eighties.
In addition to these World War II unclaimed bond money, there are several other unclaimed funds which the veterans are entitled to. Some of the most common unclaimed funds, which the federal government owes to the veterans are - disability payments, burial allowances and life insurance.
War veterans and their heirs may also be entitled to Adjusted Service Bonds (ASB) which were issued in registered form to World War I veterans, and Armed Forces Leave Bonds (AFLB), issued in registered form to World War II veterans as compensation for accumulated but unused leave.
As of last estimate, more than $16 billion worth of unclaimed bond money is still with the federal government. The state attorneys claims that there is no effort from the Treasury Department to find the real owners of these World War II unclaimed funds.
"It's better for the millions of American who are the rightful owners to have it returned to the states, because the states will make a real effort to find them," said David Bishop, a partner at Kirby McInerney who is representing the states in the suit. "And if after searching for them they can't find them, the money can go to work in the communities where the bonds were purchased."
So, if you had a relative who served in the World War II or even the earlier wars, you should be searching for unclaimed war bonds. You can also contact or search U.S Department of Veteran affairs (www.va.gov), or for an easier way to find out if you or someone you know is owed unclaimed war bonds or other missing money you can also utilize the vast database of http://www.cashunclaimed.com. This database has states from all 50 states. CashUnclaimed also has a patent pending Name Match technology, which makes the search for unclaimed cash much easier.