How long should one hold on to bill statements, i.e mortgage, vehicle transcription, credit cards? does anyone record any more?
Answers:
knock on wood -- the merely entry i keep hold of lay around for more than a week is my toll returns -- be doing it for 43 years and have not obstruct all the same!
I keep hold of adjectives my bills and receipts for at least possible a year. Some places will convey you to keep hold of them for 5+ years.
I believe that the IRS can audit you for up to 7 years ago, so I keep hold of anything that deal beside the mortgage, taxes, etc. for 7 years. Anything else that I could print a statement for online (such as auto loan, credit card bill, utility bills) I preserve for a year. I'm probably a bit more conservative than most ancestors! And yes, I do preserve a metal file cabinet in my home bureau specifically for these documents.