Federation of American Consumers and Travelers Helps Consumers Re-Claim Property

PR Log (Press Release) – Mar 24, 2009 – According to the Federation of American Consumers and Travelers (FACT), state governments across the nation are holding more than $30 billion in unclaimed consumer property.  FACT—a non-profit organization that offers a variety of benefits to its members, including timely consumer information—is offering consumers guidance on how to re-claim their property or that of a deceased relative.

Vicki Rolens, managing director of FACT, says, “From what we understand, these are monies which businesses have been required to relinquish to the states after having no contact with the rightful owners after a period of a year or more.”

Rolens states that most unclaimed money is from dormant accounts in financial institutions, insurance and utility companies, securities and trust holdings. In addition to money and securities, unclaimed property includes tangible property such as watches, jewelry, coins, currency, stamps, historical items and other miscellaneous articles from abandoned safe deposit boxes.

Complete information on how consumers can proceed in re-claiming unclaimed property can be obtained by visiting the association’s web site, www.usafact.org.

FACT is a not-for-profit association which was founded in 1984 and which provides a variety of benefits -- ranging from medical insurance and dental care discounts to prescription drug savings and timely consumer information -- for more than 1 million Americans.

More information on the Federation of American Consumers and Travelers may be found in the Encyclopedia of Associations, and by visiting the association's web site (www.usafact.org). The organization was formed under the not-for-profit corporation laws of the District of Columbia in 1984. Its administrative office is located at 318 Hillsboro Avenue, Edwardsville, IL 62025.