“Shredables:” What to bring to a Shredathon
Monday, February 22nd, 2010Tax records, old credit card statements, pay stubs: how long should you keep them? It’s important to keep paper records in case of disputes, but unnecessary paper, if stolen, could be used to commit identity fraud. Here are some tips from the Washington State Attorney General’s office on identifying shredables:
- Tax records: Keep for seven years, then shred.
- Pay stubs: Shred after you’ve done your taxes for that year.
- Credit Union/Bank statements: Shred after one year, unless they have information that could affect taxes.
- Medical records: Keep at least one year, possibly as long as five if there’s the possibility of a dispute over reimbursement.
- Phone/Utility bills: Shred once paid, unless you need them for tax purposes.
- Home improvement/sales/purchase: Keep for six years after you sell; some expenses may lower your capital gains tax after the sale of your home.
Other good ways to avoid identity fraud are to opt for eStatements instead of paper and pay bills online rather than through the mail.
If you sign up for eStatements at GHCU, your statements are available for up to a year online, or you can download them to your computer. Additionally, with the GHCU online bill payer, your bills are available for you to look at for at least one year, often longer. Call GHCU for help signing up for online banking and bill pay: 800-562-5515 (206-298-9394 locally).
Hello,
I would like to know the time and address for the Shredathon. I know I can look up the address, but don’t know the time.
Thanks very much,
Dan
Dan,
Thanks for your question–the Shredathon will be April 24 from 10 am to 2 pm. The address is 11023 8th Ave NE, in Seattle. I hope we’ll see you there!
what’s the address of the shredathon?
Hi, Irene,
The Shredathon will be at our Northgate branch at 11023 8th Avenue NE in Seattle. Hope we’ll see you there!
We have hundreds of old checks! 1) how long should we keep them (electronic records only go back a few years, especially images)? 2) how big can the “two bags full” be for your Shredathon? 3) can we watch them being shredded, or how will we know those little checks won’t escape the process? 4) how long do we keep credit card statements? 5) Real estate records you keep forever, right? thanks!
These are great questions! I’m no expert, so please feel free to find other points of view on this, but here’s the information as I understand it: 1) I assume you’re talking about cancelled checks here. The Better Business Bureau suggest that unless you feel you might get audited or otherwise have to prove payment, you can shred cancelled checks after one year. 2) By “two bags” we mean those paper bags you get at the grocery store. 3) You will be able to watch your documents go in the hopper and be shredded right before your very eyes! We understand that people don’t want to drop off sensitive documents and drive away! 4) The WA State Attorney General says 45 days on credit card statements, as long as you don’t need the proof of payment for tax reasons or other. Shred after you’ve balanced out your check book! 5) On real estate records, the Attorney General says to wait six years after the sale of your home.
Hope that helps, and we’ll see you at the Shredathon!
Hi There, I just spent a little time reading through your posts, which I found entirely by mistake whilst researching one of my projects. Please continue to write more because it’s unusual that someone has something interesting to say about this. Will be waiting for more!
Thanks very much, Marquerite! Hope you also found what you needed for your project.