You can see the signs everywhere you look. The person next door has had to file for bankruptcy protection and the lovely family down the road has the bank threatening foreclosure and they will lose their home. Your brother-in-law isn't able to obtain a decent APR interest rate on a loan for a new car. But this doesn't affect you because you don't have any credit problems - or do you? This article identifies three signs that indicate you are in need of credit repair and suggests some workable solutions.

The First Sign - Your credit score. You are aware of the importance of these and that they are based on everything from the interest that you have to pay to your insurance premiums. Your credit rating is OK - it is 600 and that is a good number, isn't it?

No, it isn't - it is an obvious sign that you seriously need to look at credit repair. Scores under 720 require improvement. These scores are between 300 to a perfect 850. Experian, Equifax, and TransUnion, which are the three major credit bureaus, are responsible for the collection of information about you. They get this information from companies from whom you have been previously obtained credit and then write a report. This is where your credit score originates.A higher score indicates less risk to a potential creditor and subsequently increases your chances of a better interest rate.

The Second Sign - Your credit report contains negative comments due to delayed credit card payments. It's been more than twelve months since your credit card payments were late and so you feel that your report must have improved. To check this, you obtain a copy of your credit report and those late payments are still included. Why is that?

Negative comments will remain on the report for up to 18 months, so you must make every effort to avoid late payments if you want to see an improvement. Remember that each negative comment reduces your score.

The Third Sign - You are finding it difficult obtaining a decent rate on your car loan. Picture this scenario: You have been successful in getting a new job on a higher salary than ever before, but it means a longer traveling time. Your old car just wouldn't be capable, so you need a new car. You go to a car dealership and choose a new car and when you are about to sign for the car loan, you see that the repayments are higher than you have reckoned.This is because of your credit report. You are in a difficult position, because you need that new car for the new job. You have to sign the papers and deal with the higher repayments.

These are all strong indicators that your credit needs repairing. If you take the time and make the effort to improve your credit report it will benefit you in the long run.

Most credit repairs can be done by the individual, depending upon how good they are at handling money, their credit card and how bad the situation is. If it has gone beyond that point, however,there are companies that specialize in credit restoration who will work for a fee.

You should at all times be aware of the possible signs of credit problems and if they occur, act immediately so that you are able to maintain a higher credit rating and reap the benefits.