Senator helps Spring Valley residents receive unclaimed funds

State Sen. David Carlucci invited residents to the Finkelstein library in Spring Valley Thursday to help them find lost money. New York state officials say

State Sen. David Carlucci invited residents to the Finkelstein library in Spring Valley Thursday to help them find lost money.

State Sen. David Carlucci invited residents to the Finkelstein library in Spring Valley Thursday to help them find lost money. (3/9/17)

SPRING VALLEY - State Sen. David Carlucci invited residents to the Finkelstein Memorial Library in Spring Valley Thursday to help them find lost money.

New York state officials say they are holding onto billions of dollars of people's money, which has never been claimed.

The unclaimed funds could come from things like apartment deposits or insurance policies and are held in a special account that is overseen by the state Comptroller's Office. Under state law, it remains in the account until it's claimed by the rightful owner.

In Rockland and Westchester alone, the amount owed to residents is more than $300 million. Across the state, it is more than $14 billion.

Spring Valley is among the communities with the largest amount owed.

"We actually found over 12,000 people in our community that have unclaimed funds,” Carlucci says. “And we did send letters to them, to notify them, to make sure they knew about it."

The state does not charge a fee to recover unclaimed funds, but for some the process can be daunting. There are forms to fill out, and documentation needed to prove that the money is going to the right person.

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