Is Payne Richards & Associates a Scam?

Payne Richards & Associates acts as a third-party "unclaimed property locator" that charges fees (often 10% or more) to recover funds that individuals can claim for free through state-run websites. While not necessarily an illegal entity, their letters are considered predatory and misleading, often requesting sensitive information like SSNs within a tight deadline.

Key Facts & Red Flags:

Predatory Practices: They search public state records for unclaimed funds, then send letters claiming they found money for you in exchange for a high "finder's fee".
Free Alternatives: Unclaimed property can be claimed directly for free through official state government websites (e.g., statetreasurer.wyo.gov or claimit.ca.gov in California).

Misleading Information: Users report receiving letters alleging they signed forms they never did.

High Fees: The company typically charges 10% or more of the total funds.
Recommendation: Do not pay for this service. Search for your name on your state’s official treasury or controller website directly to claim your money.
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We got a letter from them, too, about some insurance money from his Mom's past... my husband filled out the paperwork and had it notarized. We hadn't mailed it, so I decided to investigate it as fraud, because they asked for so much information that if it was a scam, they would have all that information to use for identity fraud. So glad I checked!!!

THIS COMPANY ARE SCAM ARTISTS!!! They send all these letters and paperwork to look legit and also to notarize the paperwork so that they can claim 10% money that they so called found as a refund. You will never receive your money and you owe them the 10% of the refund because you signed the documents. They look legit because they show the BBB sign.

DON'T FALL INTO THIS TRAP!!!!

I too, was sent a letter from Payne Richards and Associates telling me that they have found $1,022,09 that they would like to return to me. They also said not to send any money and that when I received my check there would be included an invoice for me to send 2% of my refund, $102.20. I figured I would wait for the check to clear before sending any money. It doesn't make much sense though as why would they send me a check and then trust my sending them their 2% afterwards? It sounds so anti-capitalist. I will call them Monday as they are closed weekends.

Thank you so much. I also received the same letter from them

I have received this letter saying I have some money to recover they are telling me to send a notarized letter and to received the check and then they will charge me 99.28 fee and if the claim is denied im not going to be charge. My mother passed away and they said that the health care place were she was at they send that money to them its been 7 years and now they said that for me to claim that money why they didnt do it when she passed away it took 7 years for them to send me this information.