The Importance of Asset Recovery
Do you move a lot? Have a relative who recently passed away? Or did you quit your last job in less than perfect circumstances and forget to collect a last wage, perhaps? These are all common enough scenarios, after all, even the most budget conscious amongst us can be forgiven for losing track of an asset or two, in hectic circumstances.
But did you know that these forgotten sums don’t just disappear? Recovering those sums is one of the main services firms like Advanced Recovery Consultants look to provide.
What Happens to “Lost” Assets?
While the laws that apply vary, generally banks and companies are legally obliged to relinquish any abandoned property. Assets are generally considered abandoned if the rightful owner of the funds or property makes no contact with the holder of the sum for several years.
However, vast majorities of assets go unclaimed and are liquidated s. By relaxing the period of time that qualifies an asset as dormant from around seven years to only three.
How Does Asset Recovery Work?
By running your credentials through an exhaustive list of financial firm registries, Advanced Recovery Consultants agents are able to locate any assets owed to you that are sitting unused. We also work to pre-empt efforts to keep your untouched funds hidden from you through ever evolving laws. We specialize in the recovery of all manner of money, in the past we’ve worked to recover:
• Stock certificates, bonds and mutual fund account balances
• Uncashed checks
• Undistributed Wages
• Life insurance proceeds
• Royalty payments
• Safety deposit box holdings (including diamonds and expensive jewelry)
• Income Tax refunds
After retrieving these funds, we can also help you manage these newly regained assets, through management programs that can recover a good portion of the lost interest and revenue that you could have otherwise received.
By employing Advanced Recovery Consultants, you can rest assured that you have powerful advocates working for you across state lines that will ensure any unclaimed assets you rightfully own are returned.