Your Money: BBB holding document shredding event

  • Follow Your Business

In honor of National Financial Literacy Month, the Better Business Bureau will hold a nationwide Secure Your ID Day on April 21.

In Augusta, we will be in the parking lot of Wal-Mart at 260 Bobby Jones Expressway.

Individuals and small businesses are encouraged to stop by between 10 a.m. and noon for free on the spot document shredding.

BBB staff will also be on site to provide expert advice and tips on identity theft, investment fraud, and other financial topics.

Whether you’re a pack-rat or a skimpy saver, it’s easy to confuse what should be saved versus what should be shredded when parsing through personal documents. With April 17 and last minute tax filing just around the corner, now is the perfect time to get your personal documents in order. Each person’s tax situation is different and can vary in complexity of records.

Saving the appropriate documents should be based on the IRS Code, meaning that all documents should be saved based on the period of limitation of the return. For example, documents for settled accident reports/claims and expired contracts for mortgages, notes should be kept for seven years, while property appraisals by outside appraisers should be kept permanently. Bank statements and expired insurance policies should be kept for three years, while retirement and pension records should be kept permanently.

Taking the time to shred the documents you don’t need and saving the documents you do can make a big difference when it comes to securing your identity. It only takes one unshredded personal document to give a thief everything needed to steal your identity.

Identity theft touched the lives of more than 8.1 million adult victims in 2010. According to a report from Javelin Strategy and Research, that theft resulted in the loss of $37 billion dollars.

For a list of locations, a full records retention schedule and for more information on this year’s Secure Your ID Day, visit www.csra.bbb.org/secure-your-id.

Reach Kelvin Collins, the president/CEO of the Better Business Bureau of Central Georgia and the CSRA Inc., at (800) 763-4222 or www.bbb.org.


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