Pitts: $57 million is owed to Fayetteville area residents; how to get your cash

NC Cash is a pretty easy way to find “extra” money that is yours in the first place.

All you do is plug your name and other basic information into the website, which is operated by the Unclaimed Property Division of the N.C. Department of the Treasurer. The treasury has more than a billion dollars of unclaimed property funds.

The site tells you whether you are owed any of that money and by whom. You file an online claim and that’s it, although large amounts may require additional documentation.

It generally takes 90 days for the check to come, but the speed depends on the circumstances. Some claims are paid much faster, according to a spokesman for the treasurer’s office.

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The money is considered unclaimed property, consisting of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned, according to the treasurer's office. The Unclaimed Property Division is a depository for 17.7 million properties, representing 19 million owners (the number is higher because some properties are owned by more than one person).

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“The money stays there forever,” says Dale Folwell, the state treasurer. “There is no charge to look it up. There's no charge to make a claim.”

He added: “There’s a billion dollars sitting at NC Cash.com, and we paid out over $110 million last year.”

Many millions are due back to Sandhills-area residents. In Cumberland, there is nearly $57 million due back to 786,554 property owners. For surrounding counties, it’s $3.5 million in Bladen; $10.4 million in Harnett; nearly $4 million in Hoke; and $12.8 million in Moore.

As for me, I try to make a point of checking the site at least once a year. I don’t think that always happens.

When I finally do, I have to say I rarely come away empty-handed.

I recently ran my name and my wife’s name. Yep, I had $23 and some change from an old insurance policy. As a couple, we had money owed us from the state Department of Revenue — of at least $50, according to the wite. The site provides specific amounts below $50; for higher amounts, for security purposes, it only states that the amount is above $50.

My wife had to sign and submit an additional form online for the larger claim; the actual amount owed us turned out to be $335.

So we will get $358, just for the cost of a little bit of our time.

I would advise anyone to at least run their name. No telling what you might find.

Even if what you get back is relatively small, it’s worth it. First, it’s your money. Second, it’s easy-peasy. Third, every little bit helps, as the cliché goes — and this time, the cliche is true.

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An unplanned-for check from the state might be the perfect tonic for wallets put out of sorts by holiday spending.

Now I have a few tips to offer to make sure you’re getting everything that’s coming to you.

And don’t worry: No charge for this advice.

Play with your name

To get started with NC Cash, go to the site and click on the very large “Search Now” tab, located right across from the smiling face of Folwell. A form comes up: “Search for Unclaimed Property”

I recommend playing with different variations of your name in the form. I missed one of my entries because it is listed under Myron Pitt (no “s”). I found it when I searched under my wife’s name.

Some people in life think my last name is “Pitt,” so the website can be forgiven.

Look up your people

Because I am somewhat of a nosy type — just look at my profession — I will sometimes punch in friends and family to see if they are owed money, and I text them if they are.

In this recent search I found money for my dad, sister-in-law and her sister. As for friends, I often choose those with kind of a unique surname so I will know it’s them owed the sum.

One co-worker I found had six entries — all from the Department of Revenue and all for more than $50. He was unaware.

Question: Should he pay me a finder’s fee?

I am messing around. I enjoy being able to share the good news.

“Be sure to look up parents, grandparents, children, nonprofits, Little League baseball teams, church or business," Folwell says.

Check everywhere you’ve lived

The search tool allows you to check by ZIP code, city or statewide. If you have lived elsewhere in North Carolina, check those places, too — even if it was years ago.

My insurance payback was from an address where I haven’t lived for eight years.

Also check other states you lived. That is particularly relevant to around Fayetteville and Fort Bragg.

Folwell says: “Every state has the equivalent of NC Cash.com.”

Big payouts

In his time as treasurer, Folwell has seen many North Carolina residents and organizations receive big payouts from the Unclaimed Property Division. They include a woman, 71, who received $200,000 an old boyfriend had left her after his death.

“He put her down as a beneficiary and no one ever called her,” Folwell says.

He said thousands had been delivered to alcohol rehab centers and many other nonprofits.

“We just delivered $60,000 to the Humane Society of Guilford County, which had been struggling to meet their budget,” Folwell said. “They got the dog food and pet supplies they needed.”

Folwell, a Republican and an elected official, said as state treasurer, he is keeper of the public purse, which typically means he is in the “check delivery business” for the state's pension and health care plans for public employees. He called NC Cash an extension of those duties.

“On top of that, it allows me to advocate for the invisible," he said. "To be able to deliver money to people who, I didn’t know who they were and they didn’t know the money is there. It’s truly rewarding.

“We have seen so many examples where these checks have made a real difference in a person’s life.”

Myron B. Pitts can be reached at mpitts@fayobserver.com or 910-486-3559.

This article originally appeared on The Fayetteville Observer: Pitts: $57 million is owed to Fayetteville area residents; how to get your cash