California Wants To Repay I.O.U.’s

The state of California has announced that they would like to make good on over $50 Millon in uncashed I.O.U.’s–also known as Registered Warrants–to some 59,000 residents and businesses as a result of last years budget crisis; almost half of which are due to Los Angeles County residents.

John Chiang, the state controller, promised Thursday to contact every one of the nonredeemers in an effort to “close an ugly chapter in California fiscal history.” Mr. Chiang practically begged them to drain the treasury.

“We have your money,” he said. “Ask for it. We want to give it back to you.”

California issued about 450,000 I.O.U’s totaling approximately $2.6 Billion, and starting redeeming them–with interest–this past September.  However, not everyone has cashed in yet.

With unemployment hovering around 12%, this money is desperately needed…but some may not even realize they have money coming to them.

If you would like to redeem your I.O.U., California residents & businesses must do so BEFORE September, 2010.  In the event that you don’t want to wait for CA to contact you, There are a few ways you can collect your well deserved refund:

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