How to Run an Unclaimed Money Finder's Business

Learn about the various types of unclaimed monies and how local laws in your area govern professional money finders. Examples of unclaimed monies include inactive bank accounts, uncashed payroll checks and stock certificates. Individual states often have laws to govern the conduct of money finders. Some states, have passed laws that make it illegal to charge finders' fees once unclaimed property is on a state's list. The National Association of Unclaimed Property Administrators' website contains information about each state's unclaimed property laws.
Specialize in one or more areas of unclaimed monies. Examples of specialization include lost life insurance, state-held monies and federal agency funds. When choosing a specialty, compare your interests with the fields available. Also consider whether data can be readily obtained on the people who have unclaimed funds in a particular area.
Obtain the proper licensing and credentials as required by your national or local laws. Some states, for example, may require a professional money finder to be bonded and/or a licensed private investigator. If the unclaimed monies area that you choose to pursue does not require additional licensing or education, you can begin your business immediately.
Establish your finder’s fee and create the necessary contracts. Some states have laws on allowable fees and contract provisions. Alaska's Unclaimed Property Act, for example, stipulates a contract must be in writing, not exceed six months, specify fees to be charged and state the nature and value of property and the value of the owner's share after the fee is deducted. In addition, property equal to or greater than $500 cannot be subject to a finder's fee greater than 10 percent.Some professional money finders increase their fee rates if a transaction involves a great deal of research. For example, the fee may increase from 1 percent to nearly 5 percent depending upon the nature of the work. State laws must still be followed when increasing fees based upon the work involved.
Find records of unclaimed funds. In the United States, every state has an unclaimed property department and a searchable online database, according to the National Unclaimed Property Network. A free national database is available at Missing Money. The National Association of Unclaimed Property Administrators' website also provides a listing of states that have searchable databases. Unclaimed monies from insurance policies and United States and Canadian government agencies can also be researched at the National Unclaimed Property Network.
Contact property owners by telephone, email or postal letter.
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How to Make Extra Money For Teens Now

Sell unwanted items online. Create an account on eBay and sell items through online auctions. The teen might need to use an adult's PayPal account to accept payments. If this is the case, provide close supervision of the account activity. Take photos of items, create listings, receive payments and ship the items to customers.
Make specialty items and sell them online. Items that sell well include jewelry, stationery, hair bows, woodworking items and floral designs. Sell items through eBay, Etsy or Artfire after creating a seller's account. Provide adult supervision when teenagers collect money for items.
Provide web design for customers. A teen with web design and website expertise can advertise these services and create websites. Check similar advertisements to learn competitive rates and advertise on websites such as Craigslist. Another option is to make flyers and distribute them locally. Work closely with customers to create the websites they desire.
Create a blog or a website and use it to sell affiliate products or sell ad space. After joining an affiliate program and selecting affiliate products, place the affiliate links into the blog or website. Earn commissions if visitors click the links and make purchases. Earn money from clicks if visitors click ads.
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