Well I’m finally going to buy a shredder

Published 1:19 am Wednesday, April 9, 2008

By Staff
I love going to my favorite bargain shop – Freese Discount in Dowagiac. I never know what I will find and often it is just what I need – at a better price than retail.
On my last trip I passed up something which I now keep thinking about. I guess I will go back and buy the shredder.
I used to believe shredding your personal paperwork was just a waste of time.
I know my son has one and uses it faithfully and my mother always burned her documents and bills (after they were paid) in her fireplace.
Though I have never been the victim of identity theft, I have had my trash containers stolen – twice. Mail has been removed from my rural mailbox too.
So when the press release came this week from the Better Business Bureau (BBB) on preventing ID theft by spring cleaning with a shredder, I decided now is the time.
I must have five or six boxes of paperwork in my sewing room taking up space I could use.
According to the BBB "when it comes to reviewing and cleaning out financial records, failing to shred sensitive documents can put everyone at risk of ID theft."
Not all identity theft is from online. Much more is done through actual contact with the victim's personal information.
When my purse was stolen on my 50th birthday my two big fears were never realized. My keys weren't used to rob me in my own house, nor was my identity compromised.
I was lucky all they did was buy some things quickly on a credit/debit card at two Meyer's stores.
The BBB offers these tips on what to shred and what to keep:
Canceled checks
Canceled checks with no long-term significance for tax or other purposes can be destroyed after one year. However, canceled checks that support tax returns, such as charitable contributions or tax payments, should be held for at least seven years – long enough to cover the six-year tax assessment period. Consumers should indefinitely keep any canceled checks and related receipts or documents for a home purchase or sale, renovations or other improvements to owned property, and non-deductible contributions to an Individual Retirement Account.
Deposit, ATM, credit card and debit card receipts
Consumers should save credit, debit, and ATM receipts until the transaction appears on their statement and they have verified that the information is accurate.
Credit card and bank account statements
Credit card and bank account statements with no tax or other long-term significance can be discarded after a year; remaining statements should be kept for up to seven years. If a consumer receives a detailed annual statement, they should keep it and shred the corresponding monthly statements.
Credit card contracts and other loan agreements
Credit card contracts and loan agreements should be kept for as long as the account is active.
Paycheck Stubs
Paycheck stubs can be shredded yearly after the income has been reconciled with your W-2.
Utility or monthly bills
Monthly bills should be shredded the year after being received by the consumer.
Remember lots of documents have your social security number and birthday listed. If they are shredded, then you are eliminating identity thieves access to them.
Paul save me a shredder.