ERRORS IN CREDIT REPORTS: One in four consumers had an error in a credit report issued by a major agency, according to a government study.

MAY PAY MORE: The Federal Trade Commission study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products.

IT PAYS TO CHECK: The FTC says the findings underline the importance of consumers checking their credit reports. Consumers are entitled to a free copy of their credit report each year from each of the three reporting agencies, Equifax, Experian and TransUnion.