Keep Paying Your Bill

• Just because the store ceases doing business doesn't mean you cease making payments.Photos.com/Photos.com/Getty Images
  
  Stores usually issue credit cards with the backing of a bank or other large corporation such as General Electric. Just because the store ceases business doesn't mean you don't owe for the goods and services you charged. Pay your bill, because your payments are still reported to the companies that keep your credit score current.
  
  

Check Your Mail for Changes in Payments

• Check your mail for any changes in contact information for sending payments or making out your check. A bankruptcy trustee may take over collection of outstanding balances for the bankrupt company. Note any change of address or change in the name of the payee, because sending checks with the old information could lead to delays in posting your payments and therefore reduce your credit rating.
  
  

Check Your Credit Score

• Call to check your credit score if a card issuer's bankruptcy reduces your available credit.Jupiterimages/Photos.com/Getty Images
  
  Check your credit rating, because the ratio of balance to available credit may change --- this factor accounts for 30 percent of your credit rating. If the company no longer does business, you don't have the available credit they had given you, and therefore your balance shows as a higher percentage of balance-to-available-credit.
  
  

Check to See If Your Account Is Closed

• Call the credit reporting bureau to see if the bankrupt company closed the account. If it hasn't closed the account, don't close it yourself. Part of your credit rating is based on how old your credit card accounts are. You gain nothing from closing it, as it's not being used, and you risk lowering your credit rating.