Something Everyone Should Do: Keep Good Records

[Credit Matters]

Something Everyone Should Do: Keep Good Records

[jack1212]

Excellent. I have actually been a victim of this. I was in the starting stages of a suit against me, when guess what? My computer crashed!

 

I had to go through the entire house, paper by paper, and rebuild EVERYTHING. (I still won though)

 

But People wont realize how valuable that article is until it's too late.

 

I never throw anything away. I use microsoft excel spreadsheet to keep up, and back up once or twice a month.

 

Great read!

 

Jack1212

[Credit Matters]

Excellent. I have actually been a victim of this. I was in the starting stages of a suit against me, when guess what? My computer crashed!

 

I had to go through the entire house, paper by paper, and rebuild EVERYTHING. (I still won though)

 

But People wont realize how valuable that article is until it's too late.

 

I never throw anything away. I use microsoft excel spreadsheet to keep up, and back up once or twice a month.

 

Great read!

 

Jack1212

 

Jack, I often worry that some of my best stories are actually the most boring. I rank this story right there when it comes to importance.

 

Seriously, this is one of those that I wish I read when I was just starting out.

 

Thanks, Jack.

[jack1212]

Excellent. I have actually been a victim of this. I was in the starting stages of a suit against me, when guess what? My computer crashed!

 

I had to go through the entire house, paper by paper, and rebuild EVERYTHING. (I still won though)

 

But People wont realize how valuable that article is until it's too late.

 

I never throw anything away. I use microsoft excel spreadsheet to keep up, and back up once or twice a month.

 

Great read!

 

Jack1212

 

Jack, I often worry that some of my best stories are actually the most boring. I rank this story right there when it comes to importance.

 

Seriously, this is one of those that I wish I read when I was just starting out.

 

Thanks, Jack.

 

Same Here! Who knows what i threw away. This should be pinned. No kidding.

[Islandgal]

I learnt this years ago after a IRS audit..

 

I got Paperport software free with a recent scanner purpose- great document management sw for the home

 

any hardcopy that I have to deal with goes in either To be Scanned, Filed or Shred

 

I do incremental compressed backups on the document folders onto a DVD disk

 

DVD disk gets archived off to terabyte data storage

 

Copy of DVD disk goes into Bank safety deposit box

Edited September 23, 2008 by Kiowa

[ademas]

I'm not very good about this.

 

I used to be excellent about it, but after 20 years of never having to go back to a single statement (ever), and now 4-5 years of PIF'ing...I've really let it slide.

 

I like your system, though. I should work on it...

[Credit Matters]

I learnt this years ago after a IRS audit..

 

I got Paperport software free with a recent scanner purpose- great PDF organizer

 

any hardcopy that I have to deal with goes in either To be Scanned, Filed or Shred

 

I do incremental compressed backups on the document folders onto a DVD disk

 

DVD disk gets archived off to terabyte data storage

 

Copy of DVD disk goes into Bank safety deposit box

 

K, mind posting that on my blog? Great advice.

[EastRidge]

So often I read from the victim of a collection attempt.

("Victim," because the debt was paid as agreed, a long

time back.)

 

The collector shows "evidence" of (...maybe, made-up...)

the credit-card bill for March 2003, shows $ 345.67 owed.

The debtor could stop this in a second -- with the credit

card bill for April, 2003 that shows payment and a zero

point zero balance. OK, not a "second," but the proof is

compelling.

 

(I could find that bill, maybe, if I unstuffed boxes for a

long weekend. But I'm not sure.)

 

In these days of "zombie debt," I worry sometimes about

the collection from hell. By the way, "hard-copy" checks no

longer come back from my bank. After 6 months or 24 or

whatever, alll my "proof of payment" may just be recycled

into fresh electrons. I oughta' be filing the on-line pictures

somewhere, too.

 

Thanks for the motivation. Good reading.

 

ER

[Credit Matters]

So often I read from the victim of a collection attempt.

("Victim," because the debt was paid as agreed, a long

time back.)

 

The collector shows "evidence" of (...maybe, made-up...)

the credit-card bill for March 2003, shows $ 345.67 owed.

The debtor could stop this in a second -- with the credit

card bill for April, 2003 that shows payment and a zero

point zero balance. OK, not a "second," but the proof is

compelling.

 

(I could find that bill, maybe, if I unstuffed boxes for a

long weekend. But I'm not sure.)

 

In these days of "zombie debt," I worry sometimes about

the collection from hell. By the way, "hard-copy" checks no

longer come back from my bank. After 6 months or 24 or

whatever, alll my "proof of payment" may just be recycled

into fresh electrons. I oughta' be filing the on-line pictures

somewhere, too.

 

Thanks for the motivation. Good reading.

 

ER

 

ER, thanks for reading. And glad that I could motivate you.

[ademas]

Don't you think your annual free credit reports can offer you a lot of protection, as well?

 

It would be kind of difficult for anyone to come after you for an old (or "fabricated") CC debt when you have reports from all the CRA's showing you with zero balances and on-time payments reported by your creditors for years and years.

 

I'm just thinking out loud.

[ms65442]

I sooooooo want one of those NeatReceipts scanners... talk about record keeping whore-ism!

[ruafraidofme]

Macs have the ability to print directly to PDF without a need for a third party program. When you select print from the file menu a new window pops open. The bottom left corner there is a button that says PDF. You can click that and save your PDF. Provided yo have OS X 10.4 or later. Great Article.

[shreco]

I think it would be a good idea to also encrypt the data on your storage device or removable media.

[Jazzyburrell]

Thanx again Sir!!!

[nekom]

Great article, that probably is *THE* single most important tip in credit building/repair, and finances in general. I haven't kept very good records until recently, but growing up with computers I've always been a stickler for backups. If my data isn't on at least 3 hard drives, I'm not comfortable that it's safe. Maybe that's overkill, but I'm the same way at work, I've saved the day numerous times because of it.

[Credit Matters]

I think it would be a good idea to also encrypt the data on your storage device or removable media.

 

And this is the one thing that I am implementing -- starting today.

 

Thanks, Shreco.

[drew3918]

Great article, that probably is *THE* single most important tip in credit building/repair, and finances in general. I haven't kept very good records until recently, but growing up with computers I've always been a stickler for backups. If my data isn't on at least 3 hard drives, I'm not comfortable that it's safe. Maybe that's overkill, but I'm the same way at work, I've saved the day numerous times because of it.

 

+1, I have started to use the back up drive, along with once a month DVD copy goes to the Bank safe, hidden safe out of home/office, and 1 copy to my CPA for safe keeping.

[blackberry74]

Another nice article, Marcus.

 

CutePDF is another free PDF printing program...that I heard about here, now that I think about it.

 

I don't encrypt my external hard drive, something I should have thought of and simply didn't.

[CleanUpCredit]

GREAT article! I LOVE PDF records! I personally use a program called "PDF Creator" but any PDF printer program should work!

[shreco]

I think it would be a good idea to also encrypt the data on your storage device or removable media.

 

And this is the one thing that I am implementing -- starting today.

 

Thanks, Shreco.

 

Your welcome. It's not paranoia when people really are out to get you and your data.

[1234]

Great job sometimes we don not real think about these problems until it arises keep up with the good work.

[nekom]

+1, I have started to use the back up drive, along with once a month DVD copy goes to the Bank safe, hidden safe out of home/office, and 1 copy to my CPA for safe keeping.

 

I never had a safe deposit box, although that's a pretty good idea for a place to store off-site backups. At work, everything critical is copied to 3 drives on 3 different computers at each of our 2 locations. I don't include my personal files in that, but I do keep them on 3 drives on 2 different computers at home, as well as a jump drive and my PC at work (I realize that's not a great idea for all, but being the network administrator, I have control over everything, my data is safe there). Take my word for it, when (not if) something bad happens, you'll be VERY glad that you made backups.

[hkbushido]

Don't forget to password and encrypt them pretty folders with $$$$ sign on them for MR. Thief.

[Islandgal]

Don't forget to password and encrypt them pretty folders with $$$$ sign on them for MR. Thief.

 

 

there are some good consumer oriented biometric options out there too..

[Islandgal]

I sooooooo want one of those NeatReceipts scanners... talk about record keeping whore-ism!

 

great tool...I scan all CC receipts...I have had merchants accept the copy when I couldn't find the original

 

its also one way I found a restaurants place had been ripping me off by adding additional digits to the tips I was leaving..

Edited September 23, 2008 by Kiowa