Equifax: Small biz bankruptcies double in March – Triangle Business Journal:

Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Calif. Oakland-Fremont, Calif. Ore.-Wash. Commercial bankruptcies nearly doubled in March 2009 fromMarc 2008, Equifax noted. "Thew March numbers provide a snapshotof what'a been happening to the small businesx sector during this period of economifc turmoil," said Reza Barazesh, head of Equifax'as North American Commercial Analytical Services Group, in a news "Not surprisingly, the highest number of small-busineszs bankruptcies are in those parts of the countru where home prices have decreased dramatically, unemploymeng has increased significantly, and credit has becom e tighter.
" For the analysis, Equifax analyzed both Chapted 7 and Chapter 13 Chapter 7 is a liquidatioj proceeding in which a debtor receives a discharge of all debts, while Chapter 13 is a reorganizatiohn bankruptcy enabling filers to pay off debt over a set perio of years. Equifax reviewed and analyzed small business data for the most recent month for which completee datais available.
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