A. We use a multi-stage research process into public databases to identify asset owners. We contact only those whom we consider highly likely to be the rightful or legal asset owner based on the information on the dormant asset record matching the information available from public data sources.
A. Never. Information about old, unused bank accounts or other dormant financial assets may be needed by the government custodian(s) of the assets to process your claim, but we will never request your current bank account information.
A. There are no up-front fees for our services. Some of the government custodians charge small filing fees for each account prior to disbursing the funds. A few other custodians charge a percentage of the asset value, which they deduct directly from the payout. We will never ask you for payment for our services before you receive your recovered asset(s).
A. From the time the claim is received by the government entity holding the asset, it typically takes anywhere from 60 to 180 days for you to receive your payout. Factors which impact the timing are: proof of ownership (type required and provided), volume of claims at the government custodian; any unique jurisdictional compliance requirements for certain asset types; mailing time for interim correspondence, etc.
A. Yes. As executor or next of kin, there will be additional compliance documentation required to satisfy the custodian of the funds of your status to represent the asset owner. We can guide you through the required process as an early step in the asset claiming process.
A. In 2014 our affiliate company had entered almost 4,000 contracts globally with asset owners and had completed the recovery of over 2,000. The recovery of the remaining 2,000 assets is being completed in 2015 (close to 1,000 of which are now complete). In 2005 they have already engaged another 3,000 contracts year to date, which they are in the process of recovering.
A. We or our affiliated company do not generally receive complaints from asset owners who receive their funds except some are concerned by the delay in processing the claims and sometimes the documentation / compliance requirements to prove ownership. This delay and compliance issue is always due to the government’s response rates and due diligence.
In advance of signing a contract some people question the validity of the service because they are generally not aware of having lost any assets or that they may be the beneficiary of assets that had belonged to others (i.e. of a deceased person). Fortunately, we are a respectable company operating in an industry that has unfortunately had some credibility issues in the past due to scammers and fraudsters.
A. There are three ways that the funds can be distributed to the owner from the government holder:
1.Payment made payable to the owner and mailed to the owner’s address. They inform us/our affiliated company when proceeds have been received or we follow up directly with the government holder.
2.Payment made payable to the owner and mailed to us, then the check is exchanged at the time of payment of the fees.
3.Payment made payable to and mailed to us and held in trust, then the residual funds after deducting our fees are paid to the owner (requires a limited Power of Attorney and is used if we do not have a relationship with the owner or if they are in a different jurisdiction.) Therefore the owner has no real risk in options #1 and #2.
Please contact us with any further questions:
880 Third Avenue
New York, NY 10022
Tel: (212) 751 0406
Fax: (212) 751 0409