Collect finders fee

Posted: Sat Aug 09, 2008 6:42 am

I have found over 300 people that lived in Alaska at one time. They are owed over $1.4 million dollars.I can have them sign a notarized promise to pay, but if they do not, I don't want to go to Alaskan court. What is best solution?

Posted: Sat Aug 09, 2008 8:22 pm

Quote:

I have found over 300 people that lived in Alaska at one time. They are owed over $1.4 million dollars.I can have them sign a notarized promise to pay, but if they do not, I don't want to go to Alaskan court. What is best solution?

Welcome to Detective forums,

Finding unclaimed money has been discussed in the past and one of our members offers a free e-book on this subject.
http://detectiveforums.com/forums/link.php?url=http://market-resource.com

As a courtesy I’ve alerted individuals of unclaimed funds and found most do not want to be inconvenienced filing for smaller amounts. Checking this morning I saw some haven’t filed for amounts in the 1-2K range yet they’ve known about it for over a year. In a few case the unclaimed property belonged to an estate which meant a few more documents. These kind of people would no doubt benefit from your type of service.

How do you intend to notified people and prevent them from filing the required documents and forms for themselves? Are you planning on helping with the paper work or just pointing them in the right direction?

Like any other service there’s also a risk of delayed or nonpayment resulting in legal action, collections or taking a loss. The service I offer is to some extent different than yours. With very few exceptions I require a nonrefundable retainer and signed contract. Working on a contingency doesn’t cut it for me.

Good luck

Watchman

Posted: Sat Aug 09, 2008 8:26 pm

General information regarding finder’s fees and unclaimed property in Alaska.

Fee Finder Agreements

The State of Alaska's Unclaimed Property Act has a provision that addresses fee finders' contract conditions and allowable fees. A contract must be in writing, not exceed six months, specify fees to be charged, state the nature and value of property and the value of the owner's share after the fee is deducted. The fee or compensation must not exceed the limitations below.

A contract that does not meet the statutory guidelines is unenforceable.

Fee Finder Limitations

The fee or compensation must not exceed the following:
• Property equal to or greater than $500 can not be charged a fee in excess of 10%
• Property less than $500 can not be charged a fee in excess of 20%

A contract that exceeds the above limits is unenforceable.

Any collection and payment disputes are limited to the contractual parties.

List for Fee Finders

Periodically, the State of Alaska compiles a list of unclaimed property with a value of $100 or more. The list is available at no charge.
Fee Finder Claims

The Department of Revenue works directly with the owner(s) to process their claim. The owner may be asked to provide various information such as current and former addresses, phone number, birth date, etc.

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Posted: Sun Aug 10, 2008 4:06 pm

Quote:

I have found over 300 people that lived in Alaska at one time. They are owed over $1.4 million dollars.I can have them sign a notarized promise to pay, but if they do not, I don't want to go to Alaskan court. What is best solution?

Quote:

sOME OF YOUR ANSWERS WERE RIGHT ON...OTHERS TOU MISSED,

Quote:

i HAVE OVER 10,000,000 MILLION TO SEAR , STATE COUNTIES, STATE GOVERNMENT, AND A BUNCH O FEDERAL AGIENCIES.. lOOKING FOR PEOPLE TO WORK WITH AND SHARE PROCEEDS

BlueAngel

What did I miss?
The information posted about Alaska came directly from their site.
In my other post I shared my experience with unclaimed property and how I prevent non payment in general i.e. retainer and contract.
Information, matters involving people and asset searches for the most part has been my mainstay. An unclaimed property search is usually included as part of my asset search or pro bono for friends, relatives, acquaintances, neighbors etc. However when on Detective forums my intention and suggestions are directed towards self research of free public information.

If you’re offering or suggesting an opportunity to make money, no thank you. As a Detective Forum moderator my time and effort is strictly voluntary with no financial interest in or from this forum.

I trust this clarifies my position. I hope you will remain an active member and join ongoing threads and share your expertise in locating people and property.

Thanks
watchman