While there are lots of advertisements and websites that claim to offer you a free credit report, the only truly free credit report available is from the Federal Trade Commission (FTC). The FTC recommends that consumers check their credit report at least annually.

A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance.

Overall, the congressionally mandated study on credit report accuracy found that one in five consumers had an error on at least one of their three credit reports.

To learn more about the way your credit score can affect you and what to do if you find errors in your credit report watch this video from the FTC.

* The information contained in this Blog is intended for general information and educational purposes only and does not constitute legal advice or an opinion of counsel.