Settlement closed -- I never got the Money!

[maxshuty]

What is the name of your state (only U.S. law)? Minnesota

When I was a baby my family was poisoned at an apartment building with Carbon Monoxide. We ended up getting a settlement and I got $1468.78. This money was to be held until I turned 18 years old. Well I'm just about 20 years old now and I recently got a call from the court house saying that all the judge had to do was sign a release and I'd get the money. So the judge signed the release and I got a certificate saying the money was being held at a credit union (or something like that) and earning 3.03% interest every year (putting the value of the money at around $2,588 by now... 19 years later) however I went to the place where the money was to be held and they said my account was closed in the year 1998.

How is this possible when I had to have a judge sign papers saying the money could be released to ME? Shouldn't I be the ONLY one who was allowed to close this account? How could it have closed 11 years ago when I was only 8-9 years old???

My parents said the only possible thing is they could have bought Coca Cola stock's with it (which I hope that they didn't because I would have lossed a lot of money rather then letting it sit, it would only be worth around $900 now instead of $2500). Could my parents close this without me being 18?

Help?!

[Dandy Don]

So go back to the place that had the information about your account and ask them to give you a printed copy of whatever documentation is there--anything showing what the account was worth, whose name it was in, etc.

It would have been in your parents names because they were the custodian of the money until you reached legal age.

You will have to sue your parents in small claims court about this unless you are willing to forgive them for doing it or unless you can persuade them to repay you. The fact that they are giving you a half-hearted explanation tends to make them look somewhat guilty.

[maxshuty]

Well I have nothing against my parents in fact if they took and spent it then I wouldn't want them to repay me because it's nothing I need. My parents said if they took it then they will pay me the money or give me the stocks. I dont want the money though if they took it. I think they honestly dont know where it is or where it went. My mom's looking through her files to see if it's in the Coke stock.

I have an account # for that place that has my money, and my name is on all of the files Ive received.


Ah well I just wasn't sure if anyone was able to throw that money around -- it's surprising actually that they allow anyone (except the person whose name its in) to touch that money.

[InsaneJane]

The money was in your name in care of the court in a bank account collecting interest. Your parrents would have had to get a Judge to sign off to take the money, just like you had to. The bank may have closed the account from non use and not being able to contact you after so many atempts....
In this case the money is helded by the bank or turnned over to the State. You still have every right to this money but will have to start at the bank and track it from there. More than likely the bank will cut you a check within 2 weeks....

Good luck.