When Should I Shred My Financial Documents?

Determining which financial documents to shred depends on the age of the document. For example, some documents may be worth holding on to for at least seven years or more. This includes tax records that may come in handy during tax audits. But, other documents like credit card offers should be shredded immediately. Otherwise, accounts can be opened under your name. While you should always use a secure financial document shredding company, like Secure Shredding and Recycling in Beaumont, it is important to know the appropriate time to shred certain files. Use this guide to help determine what documents to shred and how long to hold onto them.

Seven Years

Some financial documents are worth keeping for an extended period. This includes important files and records that prove your ownership of an asset or account. You should hold on to stock certificates, deeds to your home, auto titles, and other important information in case you need to transfer ownership. Whether you are a business owner or a residential homeowner, make sure to keep your documents and digital files safe. A safety deposit box or other locked filing cabinet can help you to keep your files organized and out of danger.

One Year

Some documents should only be held on to for a short time. This includes bank statements, medical bills, and other payments that can be disputed by a company. Receipts for large purchases may also be worth holding on to for up to a year. Whether you have a digital copy or a hard copy, hold on to these documents until any confusion has been resolved. Once you have ensured that your payment or billing information is correct and you have tended to any bills or non-tax-related statements, it is time to shred your financial documents.

Immediately

Some financial documents are not worth cluttering your office space. But, these can still include personal information that can be misused in the wrong hands. Shred any receipts after purchasing gas, groceries, office supplies, or making an ATM transaction as soon as possible. Paper copies of paid bills should also be securely disposed of, as long as it is not a payment that can be disputed. Simply throwing these documents away leaves your information vulnerable to fraud. Instead, let our financial document shredding company ensure that your files are safely destroyed.

Never

While many documents have set shelf lives, some documents are worth holding on to for the long run. These are important files regarding personal information that is valid until the account owner has passed away. Keep these files stored safely in paper documents or digital formats indefinitely. This includes:

• Social Security Cards
• Powers of Attorney
• Inheritance, Marriage, or Adoption Documents
• Wills
• Birth Certificates

These are just a few examples of documents you should not destroy. While many of these documents do not include financial account information, they may be essential to your financial matters. If you have questions about whether or not you should hold on to specific files, consult with your financial advisor or our document shredding company in Beaumont for guidance.

Get in Touch With Our Financial Document Shredding Company in Beaumont Today

Searching for safe financial document shredding from a trustworthy company in Beaumont? Look no further than Secure Shredding and Recycling. With a variety of services from onsite or mobile shredding to hard drive destruction, we make sure that your important financial documents are securely disposed of. Give us a call today at 1-833-747-3399 to learn more about our shredding process or about safe document disposal. Or, you can reach out to us by email with questions or for a free quote. Let us help you securely and conveniently destroy your financial records!