Legal Question in Business Law in Georgia

Credit Card Information on File

I recently took over a business that has monthly recurring billing on credit cards. I have several questions that I need answers to.

1. The previous owner has the clients credit card information written down in their file, and I am not sure if it is legal to keep that information other than on a secure website.

2. On closed contracts, how long do I need to keep the contracts?

3. Do I keep the billing information on closed contracts, such as credit card authorizations and copies of checking account autodrafts?


Asked on 6/26/07, 12:22 pm

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Credit Card Information on File

There is no restriction regarding in what medium you retain personal information. The issue is whether that information is adequately protected. With regard to your last 2 questions, again, there is no set rule on how long to keep documents and contracts. I would keep them indefinitely if possible. You can get a document company to scan them and put them on a disk to save space.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 6/26/07, 1:26 pm


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