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KEY Step in Identity Theft Prevention – SHRED

by Carla Griffin on June 27, 2008

It’s time to clear out all those old records. According to the Better Business Bureau, the key step in ID theft prevention is to SHRED sensitive personal and financial documents.

What to shred and when:

1. Canceled checks without tax purposes after one year. If the checks support tax returns, they should be held for at least seven years.

2. All credit, debit and ATM receipts after the transaction appears on your statement.

3. Credit card and bank account statements with no tax significance after one year; remaining statements should be kept for seven years.

4. Credit card contracts and loan agreements should be kept for as long as the account is active.

5. Investors should retain documentation of a purchase or sale for as long as you own the investment and the seven years beyond that time.

6. Paycheck stubs can be shredded yearly after the income has been reconciled with a W-2 or other tax forms.

7. Monthly bills should be shredded the year after you receive them and have compare them to the month’s bill of the last year.

ALWAYS Shred and not recycle the following:

1. Documents that include Social Security numbers, birth dates, PIN numbers or passwords.

2. Banking documents such as leases, contracts or letters that include signatures.

3. Pre-approved credit card applications

4. Medical or dental bills

5. Travel itineraries

6. Used airline tickets

If you have any questions on what to have shredded, please consult your accountant and/or attorney.

To locate the nearest drop-off location:
Call Carla Griffin
408.274.8766

“Strip shredding left in a plastic bag is only a puzzle to be put back together!”

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