Equifax: Small biz bankruptcies double in March - Tampa Bay Business Journal:

http://www.illinois-home.com/society-and-culture-personal-pages.html
Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlyu doubled in March 2009 fromMarch 2008, Equifaxc noted. "The March numbers provide a snapshogof what's been happening to the small business sector during this period of economic turmoil," said Reza Barazesh, head of Equifax'ss North American Commercial Analytical Servicesa Group, in a news "Not surprisingly, the highest number of small-businesx bankruptcies are in those parts of the country wherre home prices have decreased dramatically, unemployment has increasedx significantly, and credit has becom tighter.
" For the Equifax analyzed both Chapter 7 and Chapter 13 filings. Chapter 7 is a liquidation proceeding in which a debtotr receives a discharge ofall debts, while Chapterd 13 is a reorganization bankruptcy enabling filers to pay off debt over a set perio d of years. Equifax reviewed and analyzed smallo business datafor March, the most recen t month for which complete data is