Document retention for credit check app & leases?

[Abhijit Dey]

Do you keep paper copies of credit check applications? I used to digitize it and throw away the paperwork, but have started storing the actual papers. Is it really necessary to keep the paper originals? For how long? My digital copies have bulletproof backups.

How about leases? Scan it and throw it away? Not sure if the printed copy would hold up in court in case of disputes. Opinions?