Separation Anxiety

Even if your personal life is in shambles, you can still your run your business.

Question: My business is doing great, but I just got divorced, and my personal credit is a shambles. What can I do to make sure my business credit is not affected?

Answer: Just because you're going through turmoil in your personal life doesn't mean your bankers or creditors need to know. Sure, you may have launched your business on your personal credit cards, but now that it's successful, your company has a credit history that's independent of your personal finances. Keep making payments on your business credit line like you did before--no matter what financial or emotional hell you're going through personally. If you find yourself falling behind on your business loans, come clean with your creditors now so you can work out a plan to extend your payments. "The worst thing you can do is avoid dealing with the problem," says Margery Miller, an executive coach at Count Me In, a provider of online business loans and resources for women entrepreneurs. Or consider alternative options, such as asking a wealthy friend or relative to extend you a no-interest loan or credit line to refinance your business or personal debt. Remember, what does not destroy you--or your business--only makes you stronger.

Rosalind Resnick is the founder and CEO of Axxess Business Consulting, a New York City consulting firm that advises startups and small businesses. She can be reached by e-mail at or through her website,

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