Personal documents and records

[Coldicote]

My new year resolution was to sort out and get rid of unnecessary documents. I have several files of bank statements, telephone and electricity accounts, insurances, receipts for household repairs, garden work etc. My question is how long should one keep records of this kind, particularly bank statements which seems to be an ever growing file? Much of my shopping is done on line and I don't print everything. I'd appreciate knowing how others view this sort of thing. Thank you.

[Velvetee]

Hi Coldicote,

Last week, I spent the best part of six hours, trying to organise paperwork and put things away in the new cupboards my partner has constructed. After 6 hours, the living room still looks like a tip, I have at least 5 black bin liners full of shredded paper, envelopes and packaging.

As for the bank statements, after spending half an hour trying to file them, I had enough and anything from 2 years ago or more, have just been shredded. I don't know the policy of any banks, but I have been able to order duplicate statements from my bank, 2 years back. (I have also disposed of bills from a year ago or more)

I suppose if you are concerned, then an idea might be to scan documents, you feel are important, then keep them on your computer, in the unlikely event you will need them again. With bank statements, why not request electronic ones via online banking, then they can be stored in folders on your PC.

[LoftyLottie]

I used to keep everything, but now I destroy paperwork on a regular basis. I keep utility bills for a year, Council tax bills for three and don't keep bank statements at all. I bank online and can see copies of bank statements going back for a few years. I keep receipts for warranty and guarantee reasons until the time I can claim on them runs out and then burn them. All my paperwork sits in one drawer of a filing cabinet.

[wildwood]

Agree bank statement etc are a thing of the past.

Just a word on receipts, guarantees etc. Many items which carry a guarantee do now not require to have their cards send in or filled out by the retailer. If fact, I doubt if they keep the records except your email addy to send you more guff. All that is required is the cashregister receipt as proof of purchase. There are still many firms who use cheap thermal paper for cash registers which fade well within a year - this is when your claim of purchase becomes difficult to proof. I'd like to think that this is an oversight by retailers...... but I am not convinced!

For expensive items like fridge or washing machine you need to scan and print the receipt so it lasts the 4 to 5 years or so you can expect the item to perform trouble free with reasonable use. Guarantees are useless. Never pay for these 'extended guarantees'. You have rights under the sale of goods act for up to 6 years after purchase.

[twinny-15]

Many years ago I had electricity pre-payment meter which went faulty ..a bill 3 times over any previous .. yeb disputed it .. luckily i had 3 previous years bill so they finally accepted their fault otherwise I would have had to pay...twinny

[jno]

I know what you mean, I chuck out anything older than 2 years. But you'll probably find that you can see your bank statements online - check with your bank. If it involves registering online, do so, but be wary of phishing - fake emails designed to get you to reveal your details. If in doubt always phone the bank (at a number on their own website, not the one on the fake email, of course).

[zxyvixy]

i must be the exception i dont keep any thing longer then 3months.insurance i keep untill it is renewed.the rest goes in the bin.

[canasta]

I keep everything for 5 years, then shred.

[bubbles4920]

i dont like the idea of online bank statements. going on what proof of address is required etc for redirecting mail due to a house move which i have done several times over the last few years, its good to keep docs going back that are hard copies in my opinion.

[LoftyLottie]

Personally, I don't think online banking is any less secure than using a local bank. Computer systems are still used. I have found it really worth while being able to check my bank statements on an almost daily basis and being able to view my direct debits, etc. and cancel where necessary. I have also picked up quite a few mistakes very early and managed to sort them out.

As jno says, you do have to be careful about phishing, but I just don't open email that says it comes from my bank.

[Coldicote]

Many thanks for all your replies. It seems I am not alone in being unsure about these things, perhaps for fear of being billed twice for something I've already paid. I'm inclined to err on the side of caution and don't like to depend solely on my PC, especially for banking purposes. What would happen if I had to go way somewhere or perhaps into hospital? Certainly I shall pay more attention to out-of-date warranties, receipts, insurances etc. and it has been helpful to read other people's views. It's a good point about 'phishing' emails and there are indeed many kinds of PC scams and virus attacks. Only this morning my security scanner idenfitied a 'trojan horse' in an email and removed it.

[LoftyLottie]

Lots of hospitals have computer access these days ;o) ?
(They charge a lot for it too!!!)

When my poor mum was in hospital the whole bed was surrounded with modern technology. My mum was 86 and couldn't understand or manage any of it!!

[keyplus90]

For receipts, and guarantees I keep them as long as they are valid. Bills etc I clip anything more than two years old together and stick them in a cabinet. However its all personal choice. If you are self employed and use your documents for accounts and tax purpose then you are required to keep them for about 6.5 years. Otherwise you may as well fit your shredder to your letter box slot and let them go in straight. Postman might be shocked though.