Questions ? Give us a call (800) 637-5692

Customer Support

We're Here to Help you Navigate
the Recovery Process





Contact Us

Customer Support : (800) 637-5692

Email : info@mds-recovery.com

HQ

222 Broadway 19th Fl, New York, New York 10038, US

Hours of Operation:

Monday - Friday , 9AM - 6PM (9:00 - 18:00)
EDT/EST

Saturday , 10AM - 4PM (10:00 - 16:00)
EDT/EST

FAQs

Frequently Asked Questions

At MDS Recovery, we understand that the process of claiming unclaimed property can be confusing and overwhelming. Below are answers to some of the most common questions we receive from our clients about unclaimed property recovery.

  1. Property can go unclaimed for various reasons including address changes, or your contact information might change, making it hard for the entities that owe you properties to reach you.

    Different type of unclaimed properties can include:

    • Bank Accounts – savings, checking and CDs
    • Unredeemed Money Orders or Gift Cards
    • Court Funds
    • Uncashed Dividends or Payroll Checks
    • Estate Proceeds
    • Insurance Benefits/Policies
    • Stocks, Bonds, Mutual Funds
    • Telephone/Utility/Security Deposits
    • Traveler’s Checks
    • Trust Distributions
    • Customer Overpayments
    • Mineral Royalty Payments
    • Annuities
  1. Your unclaimed funds are usually always yours regardless of the them being held in safekeeping by an agency however, some states have a time limit on when you can claim property after it has been escheated.

    The funds go through a process called escheatment which has multiple phases that vary on property release timelines:

    1. Pre-Escheatment - Property Release Duration (6-8 weeks):
      Unclaimed properties, start out as as account payables that are withtheld by organizations if they're unable get the property owner to claim the property as theirs. These organizations are required by all 50 U.S. states to report and transfer the properties to an appointed state's general fund. This return and tranfer process is called escheatment.
    2. Escheatment:
      Escheatment is the process of an organization handing over unclaimed property to their state. That includes bank accounts, assets, or any other property unclaimed for an extended period of time. Escheated accounts are known as dormant, abandoned, or unclaimed. Dormant, abandoned, and unclaimed accounts are ones that have no activity for a specific period of time. After the state is in possession of your unclaimed property , it's now considered post escheated.
    3. Post Escheatment - Property Release Duration (Avg. Return - 16 weeks):
      Post escheatment is the last phase of the escheatment process where the state has the right to the escheated property. Many times, the state sells the securities and uses the money toward state funds. The original property owner applies, and if their claim is accepted by the state, the state sends them a cash equivalent. The cash equivalent equals the property value at the time it was escheated.
  1. Here at MDS Recovery we deliver excellent customer service, constant recovery updates, and transparency to our clients. We use custom applications developed solely for MDS to streamline the process, maximize findings, and secure our clients data.
  1. No you don't. Payment is due only when we are successful in retrieving your funds. Our clients are protected by this statement through our service agreement, which is signed by both parties. We use a flat commission model that's dependent on the properties retrieval complexity.

"Fortunate to find MDS. They turned out to be an efficient asset recovery firm. Michael was timely and available with regards to communication. I received all the funds owed to me. Many thanks…will look forward to using your services again."

Eric Calian D.D.S.
Calian Dental Group