That presumes, I guess, "forever" doesn't include tomorrow, which is about when the county's letter arrives, right on schedule.
You should know there’s a scam happening right under you nose.
Have you heard about Global Discoveries, LTD?
They do the “we’ve found your money” thing and in terms of a scam, I think what they do is off-the-charts sleazy.
How the scam works
The fraudsters monitor overages created at tax sales throughout the country.
Their agents attend auctions and whenever a significant overage occurs, they quickly send a letter to the former owner, letting him know he may be entitled to claim funds they’ve “discovered.”
Of course, they don’t tell him where the money is because if he knew, he wouldn’t need them. That’s not the scam part.
What is a scam, clearly, is their business model.
They know counties will be attempting to contact these same owners shortly and letting them know to come on down and claim their money.
The race is on
So what does Global Discoveries LTD do?
They race to beat the county’s letter.
They understand their services won’t be needed once the former owner hears from the county so they rush their letters out in an attempt to get people signed up before the county has a chance to make contact.
What happens next?
You get this letter from Global Discoveries LTD, agree to split the money with them, and the very next day you hear from the county telling you how to claim the money yourself.
And now you’re stuck owing Global Discoveries LTD a big part of that money (up to 50%, I think).
You tell me.
My favorite part?
Their website proclaims . . .
Without our assistance the funds would have been lost forever!— Global Discoveries, LTD
That presumes, I guess, “forever” doesn’t include tomorrow, which is about when the county’s letter arrives, right on schedule.
So you see, Rob, this is how you work an “overage play” scam.
Just figure out who’s supposed to get the money and sign him up on a 50/50 split deal before the county has a chance to let him know about it.
class action suit
According to their website “millions of dollars” have been recovered.
Former clients who’ve paid them a big percentage of their overages, not knowing the county would be contacting them soon after they signed up should be looking for a way to get their money back.
Hopefully, Global Discoveries, LTD sues me as a result of this post and I’ll have the opportunity to round up everyone they’ve scammed and fire back with a class action suit. I’ll let you know if and when I’m served.
In the meantime, Rob, if ever there was an unfair and deceptive business practice that needs to come to an end, this would be it.
Pretty crazy, eh?