If you are or are considering becoming a money digger, you are probably more than a little disappointed with the 5% to 15% research fee caps imposed by almost every department of state unclaimed funds. . There is so much money out there and so many people who will probably never hear about it without the help of a professional money digger, that really you have reason to feel a little pissed off about it. You deserve a wider fit for the job you do.
Ready for some great news? Due to a loophole that not many people know about, certain funds are exempt from these laws: funds that are held outside of the state's unclaimed funds department. This means that you can legally charge 30-50% (or more, depending on the complexity of the case) to locate and recover the missing money from people. The big escape, once again: funds held outside of the state unclaimed funds department are generally not subject to finder fee caps.
Are you not familiar with the money seekers? These are professionals who locate funds held by government agencies that are owed to ordinary citizens, which for some reason are not claimed by their legitimate beneficiaries. These funds can come from tax overruns and mortgage foreclosures and missing heir-type situations, as well as countless other sources. What they all have in common is that if they are not claimed on time, the government can keep them – which means money-seekers are desperately needed, especially in today's economy.
If you are already or want to be a money digger, avoid unclaimed funds. They're too public, too easy to find, and there are too many people already working on these files – and of course, they're subject to the research fee caps mentioned above. Track down funds floating outside the state's unclaimed funds division – tax sales overages, mortgage foreclosure overages, dated checks and unclaimed heirlooms. These funds are almost never announced publicly on a website and are almost always owed to recipients who have no idea what they are owed.