# Is this some sort of scam ? {Computershare Providence R.I.}



## Fonzie (Nov 5, 2003)

I take care of my Mother's finances and I received a letter the other day. The letter was from the unclaimed property division of Computershare Corporation out of Providence Rhode Island.
In the letter they reference the fact that my Mother owns some Cisco stock {true}, and that there has not been any activity on her account in some time {true again}. They claim that her shares will be subject to the "Illinois abandoned property laws" if she does not respond to the letter within 30 days.

The only information they are asking for is my Mother's signature, the date, and the last 4 digits of her social security number.

I looked up Computershare Corporation online and it seems to be legitimate company. I will call them tomorrow to see what's up. 

I was wondering if anybody has had any dealings with Computershare. I want to be better informed when I call them tomorrow.

Thanks Much 


.


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## ann in tn (Nov 25, 2007)

You could call the Better Business Bureau in that area and see what they say about the company.


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## mistletoad (Apr 17, 2003)

Sounds legit. When I worked at the Credit Union we used to contact people who had no activity for a period of, I think, 5 yrs or so. If they did not respond we made a small transaction on their account to stop it going to the state as abandoned property.


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## TheMartianChick (May 26, 2009)

Computershare is legit. I have had some dealings with them. They handle dividend reinvestment programs (DRIPS)for a lot of companies like Fedex, Abbott Labs, Walmart, etc... I never liked having to pay a stockbroker and DRIPS work well for many people because you can buy fractional shares, spending only the amount of money that I want to at a time. I am unfamiliar with the specific Illinois law that they cite but it is possible that if there is no activity on the account that they would consider it to be abandoned property.


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## Fonzie (Nov 5, 2003)

TheMartianChick said:


> Computershare is legit. I have had some dealings with them. They handle dividend reinvestment programs (DRIPS)for a lot of companies like Fedex, Abbott Labs, Walmart, etc... I never liked having to pay a stockbroker and DRIPS work well for many people because you can buy fractional shares, spending only the amount of money that I want to at a time. I am unfamiliar with the specific Illinois law that they cite but it is possible that if there is no activity on the account that they would consider it to be abandoned property.



Thanks MartianChick!


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## TheMartianChick (May 26, 2009)

You're welcome!


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## cfabe (Feb 27, 2005)

I have also dealt with Computershare. They handled employee stock purchase program for a previous employer.


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