How To Stay Afloat Despite Experiencing Bankruptcy Whenever you wish to make a business purchase, or you wish to avail of a housing loan after an episode of bankruptcy, here are some helpful tips to follow. Look for lenders who still accept clients who have bankruptcy records, since there are a number of them that are in operation today. In order for your business to build a steady business credit profile, you need to employ a number of steps to ensure that your enterprise has a fresh connection with various established lenders and creditors. Here are 5 top tips for building your business credit profile. Establish Your Business As A Separate Unit For starters, build your business credit profile as a separate entity from your personal credit profile. Although it may take a while for a person to rehabilitate his credit score after bankruptcy, the impact of the bankruptcy though dissipates over time. To restore your credit worthiness, you will need to add new trade lines to your report, as well as take on other forms of credit, like a small appliance loan, so that your credit score will not stagnate. To steer clear of any delinquencies, try setting up your bills for automatic withdrawal from your personal ckeching account, so that you won't have to deal with any collection agency in the future. Balance Your Credit Card Spending Regardless of whether you have one, two or three credit cards, remember to spend wisely and balance your credit card obligations. Credit monitoring services also cannot fully detect any fraudulent activity, because there are a number of details in your account which credit agencies are often not alerted, or notified about. - The problem with some credit monitoring agencies is that they charge fees which are unethically exorbitant. Don't Ask For A Higher Limit From Your Credit Card Company If you have a credit card, don't be tempted to call your credit card company and ask for a higher limit, because this can help ruin your credit score. Next, don't open any extra credit card accounts, because by having an extra credit card, or by canceling the other one, you can do major damage to your credit history.