Larry from Columbus, Ohio shared this credit report error story with us:

“I am listed as not having paid a clinic for treatment for high blood pressure. Not only have I never been inside that clinic; I have low blood pressure. Another lists me as having been treated in an emergency room and not paying. I’ve been in an emergency room once;that was in 1984, and my insurance covered all but $l0.00, which I paid. I’m also listed as owing Time-Warner; my bill is automatically deducted from my checking account each month. When I call Time-Warner, I’m told that I am current and have no outstanding balance.”

A new study released today by the Federal Trade Commission (FTC) shows that many consumers could be paying more for their credit – from student loans, to mortgages and interest rates – than they need to. The FTC found that over 40 million Americans had an error on at least one of their three credit reports, emphasizing the need for consumers to check their credit reports for mistakes that can cost them.

Consumers shouldn’t be denied a loan or pay higher interest fees because of a reporting mistake – especially when these errors can be identified and corrected through your free credit report. It’s critical that consumers know how to access their annual free credit report and take advantage of it before their credit is damaged.

The study also found that one in four consumers identified errors on their credit reports that might affect their credit scores.

We launched a national “Know Your Score” campaign urging lawmakers to require the three major credit reporting agencies to give you credible and trustworthy credit scores free along with your credit reports. While consumers can currently pay to get their score, a previous report by the Consumer Financial Protection Bureau (CFPB) found that one in five consumers would be likely to receive a meaningfully different score from the one sent to a lender.

We urged the CFPB to audit the big credit reporting agencies to ensure their compliance with existing requirement to maintain accurate consumer credit files and require them to investigate and fix errors reported by consumers.

Do you have a credit score or report horror story? Share your story here.