Finding Missing Money Is One Way Chicago Residents Can Help Pay Off Debt
You know the thrill you get when you discover a $5 bill hiding in your pants pocket? Imagine how you'd feel if you found $500 in there.
OK, so you're not likely to stumble on half a grand in your jeans. But believe it or not, it's not uncommon for folks to forget about similar sized chunks of money hidden in old bank accounts, safe-deposit boxes or insurance policies, say Chicago bankruptcy attorneys. And there's a new way to help you turn up buried treasure - money you might be able to use to pay the bills.
At MissingMoney.com, a secure website endorsed by the National Association of Unclaimed Property Administrators, you can search for lost assets required by law to be turned over to the government.
Even if you're not sure that you've misplaced funds over the years, it's worth a minute of your time to search. Just check out the success stories on the company's site. For instance, one woman found $1,400 in annuities her now-deceased parents bought for her when she was a kid. Others found old credit cards with money, or missing paychecks.
But don't feel bad if you don't hit the jackpot (hey, you should pat yourself on the back for keeping close tabs on your finances - most of us aren't that responsible). There's a way you might be able to turn up some extra money after all. It involves paying down your debt.
Every month, you write checks to pay off your debts, right? And every payment includes interest. If you start making an effort to pay off your balance in full, you'll not only reduce the amount you owe each month - but you'll eliminate future interest, saving money down the road.
It's not as fun as finding money in the dryer, but it will certainly make your life easier. Worried your debt is too big to get a handle on? Our professional Chicago bankruptcy attorneys can help. Try a free one-on-one debt analysis and find out if there's a bankruptcy plan that can make lowering your balance - and protecting your money - possible.