This is definitely a job-by-job issue. While you're right that some jobs are looking to a credit check as an indication of your personal/professional character, others are looking at it as an indication of whether you might be susceptible to blackmail, or have a personal issue that could be exploited by an adversary.
Thoughts for addressing it:
1 - Make it a non-issue - if you're regaining solvency, get credit counseling from a reputable source - there are ways to regain a good credit rating, and getting someone to review your case and help you fix any nagging issues holding you back is a good plan.
2 - Don't lie - quite often, jobs with a credit check will begin the screening process with a question of something like "a credit check is part of our background check process, will this be a problem?" Don't lie. If you have a known bad credit rating, take the opportunity to explain why, what you're doing (and have done) to correct it, and when you expect it to improve. If the credit check is security related, you'll compound the trustworthiness problem if you lie.
3 - Paint a picture in your personal history - when you are asked to summarize yourself, emphasize the internal drive that lead you take the risk, the passion that led you to get into debt doing so, and what you learned from the experience (which hopefully includes not getting into a bad credit situation in the future!)
4 - Avoid it in the future - there are ways to take on entrepreneurship without maxing out your personal resources. Assuming you have the urge to do another such adventure, research ways of getting funding, building a business case, and separating your personal finances from your business.
Some jobs will simply say no. A big organization with very established rules and policy will simply reject you. Truth is - they aren't hiring for entreprenuerial spirit - a big organization will prioritize following rules and dedication to stability over the willingness to learn alot on a wild adventure. To spare yourself the time and frustration of wasted effort, be aware of credit check processes, and steer clear of huge organizations with very formal structures where the credit check is a non-negotiable requirement.