How long should I keep old bank,paid credit card, and monthly household statements, and those ^%$*%$%*^%$ tax returns?
203507
great question.  I used to keep everything, now I try and get rid of it as it comes in.  Do I really need a copy of a phone bill from last January?  Probably not.  I have heard keeps tax stuff going back 3 years, but if you are audited they can go back 7 years, so use your judgement on that one!
177055
I don't know what planet shaybjones lives on, but that's not how it works around here.  \n\nTo answer your question, there are two time frames you need to be aware of.  For your credit report, the bad reports will stay on your credit history for 7 years, starting from the say they went delinquent.\n\nThe "statute of limitations" on your debt depends on the state you live in (look at the links below).  Once that day runs out, the creditor can no longer sue you, and you have no legal obligation to pay.\n\nAgain, read the links below.  They go into the details of both of these time frames.\n\nYou can start cleaning up your credit by following procedures in the Fair Credit Reporting Act.  Protest the listings, and demand that the creditor validates the debt.  Sometimes the listing can be removed through this process (not always).\n\nStart building your credit by getting secured credit cards, or other types of credit cards (department stores).  By making your payments, you will slowly develope your score back up.
175395
Assuming your balance was $1000, and your credit card rate was 21.9% (Fairly Standard over here), your balance after 5 years would look something like this:\n\n\nEnd of---Balance---Int charged\nMonth 1---1018.25---18.25\nMonth 2---1036.83---18.58\nMonth 3---1055.76---18.92\nMonth 4---1075.02---19.27\nMonth 5---1094.64---19.62\nMonth 6---1114.62---19.98\nMonth 7---1134.96---20.34\nMonth 8---1155.67---20.71\nMonth 9---1176.77---21.09\nMonth 10---1198.24---21.48\nMonth 11---1220.11---21.87\nMonth 12---1242.38---22.27\nMonth 13---1265.05---22.67\nMonth 14---1288.14---23.09\nMonth 15---1311.64---23.51\nMonth 16---1335.58---23.94\nMonth 17---1359.96---24.37\nMonth 18---1384.78---24.82\nMonth 19---1410.05---25.27\nMonth 20---1435.78---25.73\nMonth 21---1461.98---26.20\nMonth 22---1488.67---26.68\nMonth 23---1515.83---27.17\nMonth 24---1543.50---27.66\nMonth 25---1571.67---28.17\nMonth 26---1600.35---28.68\nMonth 27---1629.56---29.21\nMonth 28---1659.30---29.74\nMonth 29---1689.58---30.28\nMonth 30---1720.41---30.83\nMonth 31---1751.81---31.40\nMonth 32---1783.78---31.97\nMonth 33---1816.33---32.55\nMonth 34---1849.48---33.15\nMonth 35---1883.24---33.75\nMonth 36---1917.60---34.37\nMonth 37---1952.60---35.00\nMonth 38---1988.24---35.63\nMonth 39---2024.52---36.29\nMonth 40---2061.47---36.95\nMonth 41---2099.09---37.62\nMonth 42---2137.40---38.31\nMonth 43---2176.41---39.01\nMonth 44---2216.13---39.72\nMonth 45---2256.57---40.44\nMonth 46---2297.75---41.18\nMonth 47---2339.69---41.93\nMonth 48---2382.39---42.70\nMonth 49---2425.86---43.48\nMonth 50---2470.14---44.27\nMonth 51---2515.22---45.08\nMonth 52---2561.12---45.90\nMonth 53---2607.86---46.74\nMonth 54---2655.45---47.59\nMonth 55---2703.91---48.46\nMonth 56---2753.26---49.35\nMonth 57---2803.51---50.25\nMonth 58---2854.67---51.16\nMonth 59---2906.77---52.10\nMonth 60---2959.82---53.05\n\nOn top of that, depending on your bank, you would also incur late payment fees, default fees, and a bad credit rating!\n\nMoral of the story - pay it back as soon as you can   - the banks are filthy rich as it is, they don't need any more of your money!
27220
I have about 5 - Used to have more. I don't think 5 is needed though.  3 is my recomended # -  We USED to have credit debt and ended up keeping the 5 cards that have the longest credit history. That's the only reason we have 5.   I do use them often but now it is only for purchases that I KNOW I can pay in FULL when the bill comes.  So I am NOT in debt anymore - Thank You God!!  It was a long road to hoe - 10 long years we paid off our debt  (over $57,000  - not including house loan) \n\nI am a firm believer in credit used properly.  Too many people don't understand how to go about using credit and end up building a mountain of DEBT instead.  I learned the hard way that this not a good idea.\n\nPS -  andy_r_boyd  -  Don't close down your other card.  Just keep it open with no balance.  put the card away in your file cabinet for safe keeping.  When you close down your oldest cards you are closing down your history!!  TIME is your friend.  Just having the card there helps your credit score because you are in good standing with that card.  Plus it shows to other creditors that you are not out of control with your credit cards.  It looks good to have a card with no balance on it.  It shows that you can budget yourself and you don't have to rack your balances up or max your cards out.  Keep it until you are old and gray :)
587553
If you are talking about the reporting time with the credit bureaus it is 7 years for things like credit cards etc.that are closed, reporting negatively. (but you can try to dispute things off early, about 6 months, as obsolete)\n\n10 years for tax liens, judgments etc.
639154
You should keep your current home.  The continued payment history will help show potential lenders that you have re-established good payment habits.  Plus, if you sell and don't roll the proceeds into a new house within a reasonable time, you could be liable for capital gains tax on the sale.
487058
You need to sit down and make a list of all your monthly bills that don't change.  Rent/mortgage, car note, insurance, etc.  Then estimate your variable bills like utilities, gas, food, etc.  Subtract these from your monthly income.  What you have left over is BILL PAYING MONEY.  Divide this number by two and that will tell you how much money you should put towards those CC payments at EACH paycheck.  Don't just pay those cards once a month.  Pay them every time you get paid!  This will reduce the interest charges you incur, as well as increase your credit score because you have a lower revolving balance.  The faster you pay it down the better off you will be.  Once you get that under control, set a limitation on yourself. Never put more charges on that card than the extra money left after bills that you calculated earlier.  I know this sounds tedious, but will some discipline you'll get the hang of it and it will be like second nature after a while.  Pay down the bills with the highest interest rate the fastest, but don't ignore the other ones.  Have fun with it and mark your paydays on your calendar ahead of time to remind yourself to pay those bills!  I started doing this almost a year ago and my credit score is now 740.  I started at 640!  Every time you want to buy something unneccessary and charge it, just think about how much better off you'll be if you maybe wait a while until you can afford to pay cash for that same item.
194661
You need to study the file very carefully.  It may say paid, but if it also says "Charge-off," "Repossession," "late notations", or "Collection", (just to name a few), it's still a negative item on your report, and will effect your credit score.\n\nItems on your report will stay for 7 years from the date of first default.  \n\nThe bad part is that once the creditor has your money, they generally won't give you the time of day.  That's why it's recommended you get an agreement that they remove any negative information, in writing, before you pay off the debt.  \n\nNow that you have lost all leverage to do that, all you can do is politely ask them to remove the listing.  Not likely im most cases I have counseled.
338906
My wife is a bank manager. You can't buy a home with a conventional loan in a year or two if you file bankruptcy. Fight against it for as long as you can. I believe it stays on your record for seven years. Look for help from family and friends or private or public agencies who provide financial advice( They will work with your creditors in establishing a payment schedule.) Bankruptcy is your last resort. The government has made it much more difficult to do so in recent years.
382550
I paid my property taxes with a check (from the credit card company) at a 5.9% rate.  I didn't have $1900 for mine and the $35 fee is less than the 10% I would have been charged.\nIf you have some of the money, you can use your credit card and pay that which you do have right away to the credit card company.  IE- pay $1100 on credit card and mail $500 to the credit card company.  This will help you get the balance down and not incur as much finance charge.  \nDon't forget you have another property tax bill due again on April 10, so if you don't have the first part paid off by then, you will be really behind.  \nYou might consider having an impound done so you are sure you have the money already set aside in the future.
66236
You dont really have to get too technical here. Just keep a notedpad handy or a piece of paper in your wallet/purse and write down how much you spent and what you bought on all your purchases. Thats it. If you want to get fancy you can categorize them to bills, gas, food etc.... Keep it simple. Usually after a month you realize where most of your "lost" money is going.
416937
Short answer is yes and after seven years your credit history would be clean aswell. I just moved in this country and didn't tell them where and they wrote my debt off but my credit has been screwed for years, and if i could go back i would not do it again
30380
yes. you need yo contact a credit help agency like crusader or careonecreditcounseling.com they will put you on the right track. items can be removed in as little as 3days but will report in 31days.
13655
The statute of limitations on debt is 7 years.  After 7 years it falls of your credit report.  This does not remove your responsibility of paying the debt.  Do the moral thing and pay the debt you owe.  Also remember that it's 7 years from the date of last activity, meaning that the 7 years starts when you made your last payment, *not* when you opened the card.
336300
You should get the records of your assets like this:\n\nASSETS\n  Cash on Hand ------------------------------- $0.00\n  Accounts Receivable ------------------------ $0.00 \n  (anything that has not yet been collected)\n  Goods that have certain value -------------- $0.00\n      Total Current Assets --------------------------  $0.00\n\n  Property (Gross Investment) ---------------- $0.00\n  Equipment Accum Depreciation (car)------- (-)$0.00\n      Net Investment --------------------------------- $0.00\n                                                       _____\nTotal Assets ----------------------------------------- $0.00\n\nLIABILITIES AND SHAREHOLDER EQUITY\n  Accounts Payable ------------------------ (-)$0.00\n  (Money that you need to pay "pronto")\n  Short-Term Loan Payable ----------------- (-)$0.00\n  (credit cards)\n  Current Portion of Long-Term Debt ------- (-)$0.00\n  (a sum of all principal payments om outstanding bonds)\n      Total Current Liabilities ---------------------- $0.00\n      (red numbers)\n\n   Long Term Bonds Outstanding ----------------------- $0.00\n                                                       _____\n       Total Liabilities ----------------------------- $0.00\n\n   Shareholder Equity \n   Common Stock ------------------------------ $0.00\n   Additional Shareholder Capital ------------ $0.00\n   Accumulated Retained Earnings ------------- $0.00\n\n       Total Shareholder Equity ---------------------- $0.00\n\n          Total Liabilities and Shareholder Equity --- $0.00\n           (This amount should be the same as Total Assets)
92321
you can find the answers on turbo tax.  you have to have housed them for a certain amout of time.  you have to have names and information.
425148
Go to legal aid on Monday with your copies of all the papers including the receipts for payments. You may end up owning the mortgage company if all you say is true. I wish you the best of luck.