Credit Score Monitoring And Starting A New Business For those planning to start their own business, credit score monitoring is an important and must-do step, which helps protect a businesses' ability to borrow from lenders, at competitive interest rates. In getting a deeeper understanding of the value of credit score monitoring, a business owner must first analyze how their business credit profile is built, and learn what the score really means, as well as find out exactly who looks at it. It tells prospective creditors that you re unable to honor your promise to pay back your debts and other financial obligations, from utility bills, credit card charges, child support and more. 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. Once you've gotten approval, pay off the loan in the quickest time possible. Evaluate Your Credit Report For Errors Your credit report must still need to be fully evaluated, even if you've already been declared to be bankrupt. Check out any errors or inconsistencies on your credit report, because any negative item is only allowed to be reported for 7 years. If your business credit report does not provide you the same scoring system, go to the reporting company's Web site, and find out how to interpret your numbers. Collection Proceedings In evaluating your business credit report's collection proceedings, find out whether you have a history of letting your bills lapse, or whether some of your accounts have been sent to collection. Pay Your Bills On Time Each time you use your credit card for making various purchases, always remember to pay your bills in full each time they come due. Timely payments make for happy credit card owners, while late or missed credit card payments are an exercise in futility, and paves the way for your constant haranguing by collection agencies, and also cuts deep wounds in your credit score. Your landlord can actually report that he or she has evicted you for defaulting on your apartment rent, and this would surely sne dshivers down most property management companies and mortgage lenders. Mounting Utility Bills Paint a Bad Credit History While late payments on utility, cable TV and telephone bills are not often reported to credit agencies, a number of US states actually report these types of delinquencies to collections agencies.