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Bad Debt Management
Bad debt management; keep detailed records
Don't be guilty of bad debt management. Keep all important financial documents, such as your will, and your insurance policies in a fire-proof filing cabinet. Clearing out unnecessary or duplicate financial documents can also help you to stay organized.
The key to bad debt management; knowing what to keep and what to toss
- Paycheck stubs should be checked against your W-2. If it’s a match, you can toss them. If not, bad debt management means requesting a revised W-2, called a W-2c.
- Utility bill stubs may be destroyed after recording, however, you may wish to hold onto these for a year to help track bad debt management.
- Receipts from major purchases should be kept as long as you have the item.
Get expert advice on bad debt management today.
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