When is the Right Time to Destroy Your Documents?

Wednesday, September 29, 2021 10:25 am, Posted by Absolute Destruction

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There is a right time for everything, including document shredding. If you possess documents with confidential information, you don’t want to get rid of them too soon. Whether you’re looking into document shredding for your business or household, many documents hold value for a certain amount of time. When that time comes to an end, you need to do more than toss the papers in a recycling bin, mainly if the documents contain sensitive information.

If you have a pile of papers that you need to destroy, it is best to hire a professional shredding company to complete the task for you securely. But how do you determine the right time to destroy specific documents?

Ready to Discard Immediately 

You can get rid of some documents instantly as holding on to them will provide no benefits, or discarding them will not lead to you incurring a loss. Papers you can discard immediately include, but are not limited to, photocopies of documents, paid credit card bills, and withdrawal receipts from ATMs. You can move forward with paper shredding in Markham by sorting out the documents you want to discard.

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Before you destroy any documents right away, make sure to think about the future and evaluate whether you may ever need them again. If the answer is no, feel free to go ahead and call the shredders. 

Keep Close for One to Three Years

You need to keep any corporate document, including applications from potential employees you didn’t hire and sales invoices for one to three years. You don’t know when you might suddenly need to hire someone new, and the suitable candidate might have already applied, so it’s best to hold on to some documents. 

Hold on Tight for Up to Six Years

You should safeguard financial statements, shipping, receiving documents, and insurance claims for four to six years. The exact length depends on the type of document. An insurance claim can continue for a long time, so it is best to hold on to all records until any claims are long gone. 

Say Goodbye After the Lucky Seven

If you needed certain documents, you would have used them by now. So, it’s okay to let off some documents after you hit the seven-year mark. These documents include tax statements, employee records, and financial documents. But, don’t eliminate tax or business documents before seven years pass since the law requires you to hold on to some documents for a long time. 

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Never Let Go

It’s okay to hold on to some documents for longer than eight years. But, you have to determine which the right ones are. You have to keep some records forever, in a safe and secure environment. You should never destroy documents include birth certificates, social security cards, citizenship papers, passports, or death certificates. When you keep sensitive data, it is essential to store your documents safely in a locked room, cabinet, or safe deposit box.

Choosing the right time to shred each type of documents is an essential step of the shredding process. When you’re in doubt, hold on to the documents for a little longer. But, when you’re ready to bid the documents farewell, contact Absolute Destruction to simplify the process.

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