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Keep old billing statements for paid off student loan?


billyd
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I have some old billing statements for a paid off student loan (2-3 years now). I have a statement from them that it's paid off. The rest are old billing statements. Should I get rid of them? Should I scan them into a PDF instead? I figure the paid off note is close enough. The original loan servicer left the industry so it was sold new a new servicer 4-5 years ago. The old servicer I had problems with as they reported inaccurately on my credit report. Ended up getting it resolved, but made me a bit paranoid to keep every statement.

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I am a firm believer in maintaining records beyond the usual IRS-type windows.  Whether you keep them in paper form in a file folder or whether you scan them and maintain them on your computer or a thumb-drive, KEEP THEM! 

 

I prefer the hard copies simply because I am more apt to have a computer failure than a flood/fire that takes out the second story. 

 

Having the older records rarely is needed, but for the rare instance where they ARE needed, having them is well worth the minute amount of space it took to keep them.  Better safe than sorry...and this holds true for more than credit-reporting issues.  I've had old vehicle transfer documents that saved me when the next owner accumulated parking tickets and did not pay them (and had never transferred title into their name).  Since I could document the sale, I never had to do anything beyond the initial phone call and follow-up fax to the entity seeking to collect (in my State, such matters CAN result in a hold on renewal of the registrations of all vehicles owned by the individual).

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