We are not aware of any specific legal requirements that apply to the retention of bankruptcy documents and E-Oscar credit bureau corrections. Our Guide to Bank Record Retention recommends retaining records related to a credit bureau dispute for two years from the termination of the dispute, but that recommendation does not stem from any laws or regulations.

For bankruptcy documents, and any other documents related to litigation, your policies and procedures should establish timelines for record retention; again, there are no specific legal requirements. One possible model is HUD’s record retention requirements for participants in the HOME Investment Trust Fund program, which require retention of litigation related documents at least until the end of the litigation (and any related issues): “If any litigation, claim, negotiation, audit, monitoring, inspection or other action has been started before the expiration of the required record retention period records must be retained until completion of the action and resolution of all issues which arise from it, or until the end of the required period, whichever is later.” 24 CFR 92.508(c)(6).