I must have 10 huge boxes of cancelled checks, statements and other documents in my basement dating from the ’90s.
I’m paranoid about throwing anything like this away with fear of an IRS audit or identity thief. However, I’m drowning in paper, and I need to get rid of the clutter.
Fortunately, I’m about to add more space to my basement with the advent of computer imaging and the Internet.
After speaking with my local banker, I intend to shred most of my checks and statements. I wanted to make sure, so I called a few banks, and to my surprise, got varying answers.
Gail Perrell from the State Employees Credit Union says to shred them all and go online for up-to-date banking records. All checks are imaged and recorded and can be recalled if necessary.
F&M Bank’s answer was to go by the IRS rule of keeping all checks for three years.
Cindy Thomas at Wachovia told me to keep all checks relating to tax returns and checks concerning health issues, mortgages, etc. Thomas also recommends always going through all of your checks before you shred. She always keeps some checks like tuition payments for sentimental or historical benefits.
My problem is my paper shredder. It’s one of those inexpensive, over-the-basket shredders that cannot handle thick paper or staples. Recently, I’ve learned of a local shredding service that is the answer to my problem.
Rowan Vocational Opportunities, a non-profit rehabilitation facility located on Old Concord Road in Salisbury, shreds documents commercially and for the general public.
Glenn McDonald, sales marketing director at Vocational Opportunities, says their commercial shredder can handle documents up to the size of a small phone book. Bonded and insured, Rowan Vocational Opportunities bales the shredded documents and sells them to a local paper recycling center. Shredding costs will vary from 8-10 cents per pound, depending on quantity, size, etc.
If you’re interested, contact McDonald at 704-633-6223 or visit the agency’s Web site at http://www. rowanvocopp.org for more information.