how long should a person keep documents, credit card statements, bills, ect. before shredding them?

Question

tax documents, any legal document, parking ticket, credit card statement, before i can safely shred....

Answer 1

It depends on the document. Here is a guide: http://www.shrednations.com/articles/personal-records-retention.php

Answer 2

7 years

Answer 3

I only keep a couple of months worth at a time. I shred the rest. If you need copies at a later date, you can ask the bank or credit card companies and they will send them out. I think its best not to have these things lying around!! It is only business receipts and paperwork if you are self employed that you need to keep for 6 years.

Answer 4

No less than 7 and up to 12 years. For IRS purposes, up to 7, but for being sued or any other purposes, up to 12 to be on the safe side,

My mother had a collection company that purchased her "debt" threaten to sue her for a debt that she had paid in it entirely after it had been "charged off" for the creditors accounting purposes try to collect on what she had already paid off 10 yrs. prior, but because she had receipts showing she had paid, they were not able to pursue their claim.

I have since worked for banks that have sold their collection debts that have been older than 7 years and if due diligence (written attempts to collect without filing for a judgement, only because it would cost more to pursue than we could ever hope to collect) and depending on the State where the debtor resided in, could be pursued to 10 year + any attempts to collect/find due to incorrect addresses.

Answer 5

Seven years

Answer 6

If it has to do with property, like buying a house or major repairs, then. forever.

Go to office max and get a small filing cabinet. They're not expensive, and everything is together.

Answer 7

i was advised 7 years by my accountant