Auditor Lea Reminds Arkansans: No Cost To Claim What Is Yours
Posted: 03/02/17
Little Rock, Ark – Auditor of State Andrea Lea is encouraging Arkansans to exercise caution when approached by individuals or entities offering assistance to claim abandoned assets.
These entities and individuals are referred to as “finders.” Finders approach Arkansans who are known to have unclaimed assets and offer to claim those assets on the owner’s behalf for a high-percentage fee.
While this practice is not illegal in Arkansas, it is dubious at best. The State of Arkansas’ unclaimed property program, famously known as the Great Arkansas Treasure Hunt, does not charge any fee for claiming assets.
Finders often use insincere tactics to persuade Arkansans into entering into a contract. They fail to disclose that there is no cost associated with filing a claim when contacting the Auditor of State’s office directly.
Finders have been known to:
- Claim they are licensed with the State of Arkansas. The fact is the State has no license that would recognize, authorize, or credential any individual not specifically employed by the Auditor of State’s Unclaimed Property Division.
- Communicate urgency or risk losing the right to claim the assets. This is not true. Assets remain on the books forever until they are claimed by the rightful owner.
- Claim that finding unclaimed assets is a difficult process. This is also not true. Anyone can search at ClaimItAR.com or by calling 1-800-CLAIM-IT (1-800-252-4648). In fact, hundreds and sometimes thousands of Arkansans file claims every day.
Arkansans can search their name at auditor.ar.gov or ClaimItAR.com and file a claim at no cost. Checks are issued for the value of the claim within seven to ten business days.
“The best part of my job as Auditor is reuniting Arkansans with money owed to them,” said Auditor of State Andrea Lea. “It disappoints me when Arkansans pay a percentage of their money unnecessarily.”
Auditor Lea encourages Arkansans to search their name annually as new assets are turned over to the state routinely. To search your name, visit ClaimItAR.com or call 1-800-CLAIM-IT (1-800-252-4648).
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