A collapsible storage arrangement for hanging files with a storage housing that retains a pivotable framework that can be pivoted between an upright configuration for enabling access to file folders and a collapsed configuration for storage. The pivotable framework can include first and second pivotally retained frame structures in combination with first and second support rails that have first and second ends pivotally connected to the first and second frame structures. The storage housing can have first and second end walls, first and second side walls, and a bottom. A lid can selectively seal the storage housing. A guide arrangement, which can comprise a flexible member, a guide panel, or a fixed inclined surface, can guide file folders toward a reclined position as the pivotable framework is pivoted from an upright configuration to a collapsed configuration.