7 years? 9 years?

I am doing a major paperwork cleanup today and I pose the question – how long do you need to keep stuff like bank statements etc? I have heard 2 years, 7 years, 9 years. I have also heard that because these days everything is electronic anyway you don’t need to keep a thing.

How long do you keep your bills and statements and cancelled cheques?

…and in other news the kids cannot wait to come home today and start shredding the stuff that needs to be destroyed!!

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  1. Z! says:

    A few years ago my hubby cancelled a telephone account. He was late in paying his final bill by a couple of weeks, and they threatened to send him to collections. He went to a service center to pay the final bill. He paid in cash. He asked for the phone company to send him written documentation that it was paid. They did.
    2 YEARS after the event, he got rid of the letter. A couple of months later, they sent him to collections!!
    Since we now have a house and good credit, he is stuck paying it again- so as not to ruin our credit.
    Sometimes keeping paper is important.

  2. Mattit_TOFY says:

    Tax/Bank statements are supposed to be kept for 7 years. Other legal documents are 5-7 years. Things that deal with your credit history/report, 7 years.

    Bills, billing statements – 1-3 yrs, depending on billing cycle.

  3. tzip says:

    scan all statements that come in onto your computer and then trash the paper copy. organize them on your computer by type of statement/year, etc.

    and dont forget to regularly back it up!

  4. L Z says:

    I just read the story about your divorce and have an important question to ask you.
    How does child custody work in case of Jewish divorce? I believe the Shulchan Aruch says that the man gets the kids; how does this work practically?
    Please reply!

  5. hadassahsabo says:

    LZ in most countries where there is secular divorce through the civil courts the Beit Din doesn’t intervene in child custody.

    i am not sure however that your assertion is correct, that the shulchan aruch says the man gets the kids. shall have to check that.

    let’s please continue the discussion on the divorce thread. thank you. http://hadassahsabo.wordpress.com/2009/09/01/my-get-experience/

  6. tesyaa says:

    My husband would keep them forever. I think 7 years is adequate. I think he’s winning, because we have 20 year old bank statements in the attic. The things we do for shalom bayis.

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