Checks and Refunds: The Money You Weren’t Expecting

With the Presidential election close at hand, each party has a boatload of promises to fulfill. While the presidential candidates are still out there spending money, in hopes of gaining election or re-election, one has to wonder: with all the campaign spending happening every day, what is either party doing to save money during their campaign? While this post  isn’t a politically charged message, there is a distinct correlation between saving money and winning the favor of a nation.

According to the BBC News, President Obama has signed eight emergency declarations related to Hurricane Sandy, which has played havoc with business and finance on the East Coast for the past week. New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, Maryland and District of Columbia are affected by the hurricane.

While issues like killer storms caused by natural events and the presidential election take top billing in the news, consider the financial possibilities of monetary repayments which do not often make the headlines.

Every year, cities, counties, electric associations and power co-ops publish lists, naming area residents who are due to receive a refund on over-payments. Locally, there’s a list published in the newsletter sent by the rural power association who provides power for the area — naming those who will receive a credit to their bill for over payment.  With power outages happening on the Eastern Seaboard, residents may have an opportunity to receive credit for the days in which they were without power.  In the UK, http://moneyback.uk.com/  helps people who have taken out a loan over the past ten years payment protection included,  to see a return on mis-sold Payment Protection Insurance (PPI).

Last month my husband and I were pretty excited to receive not one, but two!, checks in the mail from our local power company. One was for $26 and change, the other was just over $24. We used them as a treat, to go out for dinner.

Options abound for those who may have overpaid — it just takes some internet digging from time to time, or finding an organization who handles the refund process, to see if you may be eligible.

Have you ever been owed a refund? Have you ever found out that you were due a lump-sum, due to over payment on a loan or other financial agreement? Share your thoughts here – leave a comment below!