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With all of the talk of a nationwide economic stiumulus package, it is very difficult for me to understand why the governors and CFOs of every state in the nation haven't decided to speed up notification converning an estimated $400 TRILLION due claimants of abandoned/unclaimed property.
California was successfully sued in federal court where the US Court of Appeals for the 9th Circuit determined that California's then system of notifications violated the US Constitution because sufficient notice was not given to people BEFORE AND AFTER their personal property was seized!
Vermont, for example has 220,000 claimants due over $42 million! According to the US Census there are only 624,000 people in the whole state of Vermont or 1 in 3 Vermonters are due about $190! When viewed nationwide, this would be a win win situation for the economy. First it would return money rightfully due these claimants. Secondly, because of the average balance due them, chances are that a large majority of them would go out and spend this money resulting in sales for merchants, sales tax increases for the states, and other financial benefits.
I have a group of 1,600 individuals, all volunteers who gave every state until election day to do something, otherwise we said we would start contacting every single claimant in every state via email, phone, fax, and/or mail. All it would take would be an executive order either by the governors or CFOs of every state to impliment this stepped up notification process. It is clear to us that each of these public officials want to hold onto this "found money" and they have no intention of finding easy solutions to their respective statewide economies never mind the nations.
People wishing to volunteer to help get the word out can contact us at wallacenolen4@yahoo.com!
Comment: #1
Posted by: Wallace Nolen
Fri Dec 12, 2008 7:46 AM
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