Dr. Brandie Cox
Photo courtesy of Dr. Brandie Cox
Hoping to spread a little joy, Dr. Brandie Cox is urging veterinary colleagues and others to search their names on government unclaimed-money websites.
Happy accidents are nice. In the world of a veterinarian, these can be rare, as we are often overworked, under-compensated compared with other health professions and usually more emotionally exhausted than we care to admit. I may have something that could brighten your day.
In a news source I occasionally read in the Dallas-Fort Worth area, I came across a state-sponsored advertisement that led me to Texas' unclaimed property website. The article said the state had returned more than $5 billion to its rightful owners. The money is from things like forgotten bank accounts, uncashed checks, insurance payouts and so on, that are turned over to the state. Through its website, the state gives people a way to recover money they didn't know was theirs. Some of you might have heard before about sites like this, but I never had.
Curious, I went to the site and entered my name. I got hit after hit. I could not believe how much money I had left unclaimed for many different reasons. Altogether, there was $1,400 in various energy and phone company refundable deposits, overpaid medical bills, rebates never collected and other things dating back as far as 2008.
I claimed them all.
I didn't know whether anything would come of it. About six months went by. Then, a short while ago, I received the check from the Texas state comptroller. What a wonderful surprise!
After I received this check, I searched the names of friends and family. Within one hour, I found more than $10,000 owed to people that I personally know. I also searched the names of veterinarians I know, and that led me to the main reason I am sharing this: A lot of money is owed to veterinarians specifically.
Drug rebates are a large proportion of the unclaimed cash I found to be associated with veterinarians. But the list of possible sources goes on and on.
After looking up veterinarians individually, on a hunch, I did a broader search using the word "veterinary." That confirmed for me that many practices have unclaimed funds. One veterinarian in East Texas is owed almost $7,000. I found an email for him and sent a message but never heard back. Maybe he thought I was a scammer. I promise I am not. I hope he reads this.
Did you find anything? Let us know!
Next, I randomly picked other states and searched their unclaimed property sites. I found the same thing with veterinarians in those states.
I found that claiming unclaimed funds is easy. The process probably varies from state to state, but generally, you click "claim it," provide your contact information and affirm that you're telling the truth. Make sure to do a thorough search by checking any former names you've had, business names, etc. Then, if your experience is anything like mine, when you least expect it, a nice check from your state comptroller will show up.
All states have laws and procedures around unclaimed property. For example, this is what the Texas State Law Library says about "abandoned property":
Texas law describes when certain forms of personal property are "presumed abandoned." "Personal property" can include things like bank accounts, gift cards, utility deposits, paychecks, safe deposit boxes, and more.
Once the personal property is considered abandoned under the law, it must be reported to the Texas Comptroller. Texans can search for unclaimed property in their name through the Texas Comptroller's website and submit a claim.
Other institutions like local governments or school districts may have similar procedures in place for claiming abandoned property, so you may want to check your city or county's website for their procedures.
According to the informational website unclaimedmoney.org, states hold unclaimed funds indefinitely.
Certain types of unclaimed money might be taxable. Especially if the amount of money is large, that's something to ask a tax accountant about.
That said, I highly recommend that everyone check out the unclaimed property website in your state and in states where you have lived. To avoid being scammed, make sure you are on a genuine government website with the extension ".gov" and not a third-party site. You should not have to pay anything to anybody to claim funds listed as owed to you.
Here are the websites for a sampling of states:
Every state should have a site. Please look up yours and search for yourself. It is easy and fun. If you don't find anything under your name, keep checking yearly. Enjoy!
Dr. Brandie Cox graduated in 2004 from Atlantic Veterinary College in Prince Edward Island, Canada. Most of her career has been spent in emergency and critical care practice. In 2018, she opened Advocate Veterinary Services, a small animal daytime practice in Dallas.