Filing for bankruptcy is undoubtedly the last option open for a person when all other ways of repaying the loans have failed. Filing for bankruptcy affects the credit score in a negative way and lenders would naturally avoid lending money to people with a bad repayment record. Bankruptcy, thus, is surely one of the biggest financial problems faced by a person. However, this does not mean that there are absolutely no ways to get credit line after bankruptcy. By steadily improving your credit score, you can place a fresh proposal before the creditors for a credit line and fund your business operations. This has been explained below. Check Your Credit Report The first step to get a credit line after bankruptcy is to check your credit report. Once the procedure of filing for bankruptcy is over and all things have settled, the lenders have to remove the debt amounts from your credit report. However, sometimes, there are instances where the debt amounts stay as it is on the credit reports. If this happens, then it would be very difficult to regain a good credit score and it can seriously affect your chances of restoring credit. Pay Bills On Time Get used to paying bills on time. The general tendency among people is to keep postponing their credit card and other bill payments and this itself results into defaults. Always remember that every bill cleared by you helps in improving your credit score and increases your chances of getting more credit. Take Small Loans and Repay Them You might be surprised at this suggestion of taking loans again just after a person has filed for bankruptcy due to defaulting on loans. However, the fact is that credit history can be repaired only by proving to the lenders that you have developed maturity required for timely repayments. To begin with, you should take small loans and repay them fast. Small loans do not increase your Equated Monthly Installment (EMI) burden drastically and can also help in reviving credit. Use Secured Credit Card Having a secured credit card is yet another way of getting credit line after bankruptcy. The functioning of this credit card is such that you first need to deposit a particular amount with the bank and then only you are allowed to make purchases till you completely utilize your limit. In this method, the bank is totally safe as it already has your security deposit. For you, it is an opportunity to improve credit history and display credit worthiness to your lenders. Avoid Unnecessary High Debt Having filed for bankruptcy once, you should actually avoid taking big loans immediately. Also, you should also consider your repayment capacity and not opt for loans which you think will be difficult to pay later on. Loans should be taken only when you need them the most and not just because your lender is approaching you with attractive offers. Approach the Creditors After having worked hard in reviving your credit score, you need to approach your lenders once again to get fresh credit. Take along your income statements and other documents with a duly filled application form. Remember, at this point, the issue of past defaults will definitely rise and you will have to convince the lenders about your changed approach towards loan clearing. Also, you might not get the best rates of interests and hence you should be prepared to accept the bank's offer. So, these were some useful suggestions on getting a credit line after bankruptcy and following them will help you recover from bankruptcy. Proper financial planning and management is essential for all of us to meet our financial goals in life. In this journey, you can really benefit by consulting financial planners with good experience. Good luck!