SAN FRANCISCO, May 9, 2017 /PRNewswire/ -- Credit Karma today announced the launch of Credit Karma Unclaimed Money, a completely free feature to help Americans find tens of billions of unclaimed money that is rightfully owed to them. Credit Karma searches for unclaimed money in California, Georgia, New Jersey, New York, Pennsylvania, Ohio and Texas – 40 percent of the U.S. population – and proactively notifies Credit Karma members of potential matches in these states.
In other states, Credit Karma Unclaimed Money will direct people to the state's unclaimed money database, where available, to search their records. The company will expand its monitoring services to more states over time.
Whether it's an uncashed rebate, the remaining money in a closed bank account or an inheritance, many Americans don't realize they could have as much as hundreds of dollars sitting with the state, despite states' best efforts to return this money. According to the National Association of Unclaimed Property Administrators, there is more than $40 billion in unclaimed money, and as many as one-in-four Americans may be owed money.
"Our goal at Credit Karma has always been to help make financial progress possible for everyone," said Bethy Hardeman, Credit Karma chief consumer advocate. "We built Unclaimed Money to help return billions of dollars of unclaimed money to Americans – without finder's fees or charges."
Credit Karma acquired a startup company named Claimdog in May 2016 to create the new product.
"Credit Karma is in a great position to bring widespread awareness to the concept of unclaimed money," said Manu Lakkur, Credit Karma senior product manager and Claimdog founder and CEO. "We're constantly working to have consumers' backs, so we're excited to offer a simpler and more straightforward way for people to find and claim money that is rightfully theirs."
To find and claim unclaimed money for free, visit www.creditkarma.com/money.
About Credit Karma
Founded in 2007, Credit Karma is a personal finance company that's focused on helping everyone make financial progress. Whether they're interested in getting a better deal on a loan, looking for ways to save, or simply monitoring their credit, we offer a range of tools and personalized recommendations designed to help them make the most of their money. Our business model is unique in that no matter what new products or services we introduce, we're committed to providing a service that's always free. With more than 60 million members, we help people gain insight into their finances and credit information – and ultimately, improve their financial standing.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/credit-karma-announces-largest-proactive-effort-to-help-return-more-than-40-billion-in-unclaimed-money-to-consumers-300454148.html
SOURCE Credit Karma