I have been on a cleaning spree at home and the office . Things had gotten out of hand. The age old dilemma of just how long should you keep records and files had started to plague me regularly. I began by getting rid of and destroying about 25 years of old files that had filled a 750 foot storage room floor to ceiling. Yuck!!......roaches and silverfish had become the only beneficiaries of these files.  I checked with my CPA and kept all the years back that we are required to as a corporation.

Now as far as my personal client files I still have the majority of them back to the dawn of time. You just never know when a repeat customer will show up. But then I had to get rid of some personal bookkeeping files . What do I need a bank statement from 1978 for anyway? Or a "paid in full" bank note for a new 1976 Buick Skyhawk? "

There truly is a point of absurdity on keeping stuff in general.

Tonight I started on my closet at home.....next week the barn!

 
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13 Comments on Keep Those Old Files.....But For How Long?

AUG
11
2009
1,326,604 Points 187 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Trey, I think 1976 or 1978 if they went to the dumpster you are in the clear. That's keeping some things a long time...
11:14pm • #1
511,939 Points 1 Featured Post Outside Blog Called Shot Master

haha This post makes me laugh, Trey.  I did some office housecleaning today as well...
11:38pm • #2
AUG
12
2009

With 21 moves under our belt in 35 years, you'd think my hubs would have purged a few files.  I had files from a business I owned from 1995 to 2001. Each year, using the 7 yr rule, I destroyed the 7yr. old files, until I had none.  Not him.  About 4 yrs ago he sat with a shredder, and cleared out a stuffed four drawer file, of old car repair receipts, bank statements and Dr. bills...very freeing!
12:00am • #3

Too many memories, Trey! I haven't seen a silverfish since I left Texas in 1993, and only one roach in those 16 years.

I used to do the same thing, but I did it for posterity. Finally, I realized that I didn't want posterity and that there would not be any posterity, so I chunked all that stuff.

My Client files have been scanned and stored on external 1 TB hard drives, which freed up a couple of rooms -- LOL.
12:39am • #4
535,210 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Trey,

You finely paid off your Skyhawk? I'd frame"a "paid in full" bank note for a new 1976 Buick Skyhawk" and keep it forever.  Do you know how few people pay off a car before trading it?

Every thing else I'd dump after 7 years, after talking with my account and the Department of Real Estate of course.

Bill
7:15am • #5
156,166 Points

My basement is full of old files going back at least 15 years.  I'm in the process of shredding all but the last seven.
8:43am • #6
585,444 Points 4 Featured Posts Outside Blog Called Shot Master

With regards to real estate file I think they need to be kept forever.  A lawsuit under DTPA can be filed up to two years after discovery.
9:19am • #7
1,515,948 Points 112 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Trey:  May be time to convert things to a PDF format and save those piles of papers you are having trouble parting with in digital format. 
9:25am • #8
396,963 Points 17 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Its hard to throw things away though Trey. I know the feeling. Who knows when someone will call and say 'remember me'.. you want to have the docs to go off of, but really they probably don't rememeber details from 10 years ago either and don't expact you to. Throw it away!!
3:40pm • #9
655,247 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Trey, I recently called the legal hotline to find out just how far I needed to save.  I had a class once that told me until they were dust but they are getting very cumbersome.  The answer for keeping the files was 4 years.  I think I will keep those that I think might resurface but once I get the time the rest are gone.
10:11pm • #10
531,916 Points 15 Featured Posts Localism Sponsor Outside Blog

Hi Trey,

Guess a lot of us suffer from the same problem a growing mountain of old files, but I can't imagine a 750 ft. bldg. to house them!

A few years ago I did purge some of the older files for my office, yet kept many of my personal clients. My oldest go back to the mid-1970's when I first started my office. At this point I'm ready to clean house again, we're running out of room.
11:49pm • #11
AUG
13
2009
460,034 Points 5 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Gary, Waaaay too long!

Shirley,  Before computers we had way less paperwork What happened?
10:50am • #12
AUG
15
2009
509,528 Points 2 Featured Posts

I'm on a seven year and destroy trend.  I try to do this when I get my tax docs ready the use the file box that would be turning eight and destroy the contents then relable the box with the current year.
10:30am • #13


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Trey Thurmond, College Station , Texas Homes

College Station, TX

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Brazosland Classic Realty

Address: 700 University Drive East Suite 108, College Station, Tx, 77840

Office Phone: (979) 694-8844 x 110

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