Are you in control of your money?
Over many years, everyday Australia becomes trapped in financial indulgence in their bank accounts, shares, health insurance and other financial obligations.
People work and run businesses for years and years to establish their lifestyle, but often don’t even know where their money is going.
This is known as “Lost Money”.
In total, there are about $17.5 billion dollars in unclaimed money in Australia.
Heres how you find out if you’ve got Lost Money, and what you can do to claim it back.
Where is Money Actually Lost?
It is common for people to have opened multiple bank accounts where they manage different payment schedules, like insurance or health care, or investments in shares and stocks.
But after years pass they move their jobs and addresses, or travel to new places without providing their relocation new details. The result? Lost Money just waiting to be reclaimed.
In 2012, the Australian Securities and Investments Commission (ASIC) compiled data and estimated that there was over $330 million in unclaimed bank accounts, $295 million money lost
in shares and $52 million lost in life insurance.
These are just some of the most common examples of money slipping through the cracks and
disappearing.
Lost Bank Account Money
The people who owned money in lost bank accounts, shares and insurance are from the two biggest cities in Australia – Sydney, and Melbourne.
Once these people’s bank accounts have been deactivated, and following no deposit or withdrawal for about seven years, the remaining sum is transferred to the Commonwealth of
Australia.
According to the bookkeeping experts at Metro Bookkeeping, automation is the key to managing money in 2019, saying “getting in the habit of automating your accounts to both pay off debts and to consolidate money can help you from losing money over time. While the ease of opening accounts can seem helpful, it’s this ease that can lead to a loss in the long-run without proper
management.”
According to the latest data, around $1.1 billion money is lost in bank accounts, shares, and insurance policies.
Lost Inheritance Money
While wills and estate law exists to help people transfer ownership of property and assets following their passing, the truth is that this doesn’t always occur.
When people die without arranging their will it can be difficult to ascertain where the property is to go.
This can be confused further if relatives engage in legal arguments, making it even more difficult to claim anything at all.
Many Australians under 50 do not have their well organised, so they don’t have any say where their assistance will be allocated. As a result of this inaction and the confusion surrounded a lack of wills, inheritance money can easily become Lost Money.
How to find your Lost Money?
The best and easiest way to find your lost money to hire a lost money detective.
In many instances, it is difficult to reclaim your money, particularly if this occurs after so many years. As specialist money finders, Lost Money Detectives can help find and secure the funds
that is rightfully yours.
According to the business finance experts at Max Funding, “many people don’t have the time to follow up on and implement legal strategies as they are running their businesses and working. With the legality surrounded money retrieval also a challenge, hiring a Lost Money detective can make it easier to resolve disputes and return money that is owed to you”.
How to Hire a Lost Money Detective
A detective’s investigation varies upon the needs and requirements of each individual case, with their responsibilities including the preparation all of your documents and submission of your claim proposal.
As a Lost Money Detective, access is granted to a tool which is run by the Australian Securities and Investigation Commission, helping identify your lost money.
Detectives also have highly trained recovery experts that they can use to evaluate your case and make it easy in a few steps to get back your money.
Lost Money Case Study
– McGuire’s Hotel, which is one of the largest family-owned chain hotels in Queensland, employs over 200 staff.
They acquired the services of Lost Money detectives despite thinking it was close to impossible to get back their lost money. Following this, they were informed by their detective that their
money was reclaimed with minimal fuss and professionalism along with a no-win, no-fee guarantee
How to track down missing money
First of all, Lost Money detectives research any financial history in the state you lived in, with the changing of an address one of the key reasons for lost money.
The application of search is different to a traditional search, with detectives able to look up not just your name, but a broad view of your financial history and your parent’s names to see where money may have been lost.
In many cases, it may be true that you don’t have any unclaimed money, but your parents may have. These examples of lost money are difficult to track without the help of a trained professional.
On the other hand, Lost Money detectives may also find tax funds that went unclaimed and were never delivered to you.
The ability to recover your money can make a huge difference in your financial future, according to financial lenders Empowered Finance, “additional capital can help to off-set debts that are holding you back from securing loans at more beneficial interest rates, and have the ability to transform tangible outcomes in your financial future.”
In terms of your professional amounts owing, Lost Money detectives can also help if you think that you are owed a pension from a company.
Most people are not aware whether or not they are eligible for tax relief so your detective may also help you to lodge a more applicable tax return for each financial year.
Are you ready to start recovering your lost money today?
Your Lost Money Detective may help you to make future plans so that no more money will be lost.
Whether through the mismanagement of a will, keeping track of bank details, or updating always insurance policies, it pays to have professional help when your money is on the line.
What difference would it make in your life to recover money that is owed to you?
This is no longer a dream. In fact, people are getting money back that they never thought they would.
All it takes is a professional service and the skill of a trained Lost Money Detective.
Author Bio:
Robert Hudson is an Australian writer and finance student living in Sydney. He is extensively knowledgeable on all things related to the stock market and investment-related topics. Robert has a passion for film and when he’s not studying or writing, you’ll find him frequenting the local cinema.
