Equifax: Small biz bankruptcies double in March - Nashville Business Journal:

vezasid.wordpress.com
Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Calif. Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlh doubled in March 2009 fromMarch 2008, Equifasx noted. "The March numbers provide a snapshoytof what's been happening to the smalkl business sector during this period of economic turmoil," said Reza Barazesh, head of Equifax'ds North American Commercial Analyticapl Services Group, in a news "Not surprisingly, the highest number of small-businessz bankruptcies are in those parts of the country wherd home prices have decrease d dramatically, unemployment has increased significantly, and credit has becomre tighter.
" For the analysis, Equifax analyzed both Chaptere 7 and Chapter 13 filings. Chapter 7 is a liquidation proceeding in which a debtor receives a discharge of all while Chapter 13 is a reorganization bankruptch enabling filers to pay off debt over a set periodof years. Equifax reviewed and analyzer small business datafor March, the most recent montj for which complete data is available.