About i42

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Why create i42? It all started with a phone call. It was a tracer. Somehow one of us ended up in a government database of unclaimed money. The cash value was roughly $850. He wanted a 34% finder's fee. This came close to $300. It seemed a bit steep. We told him we wanted to read more about what it was. After searching sometime with what little information we had, we found it. There it was in a government database, just like he said. 34% still seemed a bit steep. 10% seemed a little bit more fair. i42 only charges 10%. We figured out that if we could automate the process then we could operate on a thin finder's fee margin.      What is a Tracer? A tracer is someone who tracks down people with unclaimed money, wanting a fee. Usually a percentage as much as 50%. You don't need to use a tracer to claim your property. Although, half the work is already done when they find you. Our goal is to provide this service for a reasonable fee. The only way we have found that the government notifies people of unclaimed money is through a newspaper inserts only a couple times a year. We have a theory about why the government doesn't try very hard to notify you. We suspect unclaimed money is an interest free loan from you to them. Some parts of the government are better then others. Such as recently we found out the state of Colorado subsidises a healthcare program with the interest earned on unclaimed property.      Why does money go unclaimed? Most unclaimed money becomes abandoned as a result of a change of address (the owner moved), a name change (the owner got married or divorced), or death of the owner (the estate was unaware of the money or the heirs could not be located). Sometimes the owner knows about the asset, but is unaware that it has been decleared abandoned and turned over to the state. Here is a list of some of the ways we have found money goes unclaimed: Dormant Savings and Checking Accounts and Certificates of Deposit Safe Deposit Box Contents Uncashed Money Orders, Cashiers Checks, and Travelers Checks Uncashed Payroll Checks Unused Gift Certificates Oil and Gas Royalty Payments Uncashed Stock and Mutual Fund Dividends Stock Certificates Mineral Royalty Payments Unclaimed Security Deposits Utility Deposits Customer Deposits, Overpayments, Credit Balances, and Refunds Court Deposits Insurance Payments Probate Court Judgments Property Overlooked in the Probate of an Estate Paid Up Life Insurance Policies Uncashed Death Benefit Checks and Life Insurance Proceeds Health and Accident Insurance Payments