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

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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearly doubled in March 2009 fromMarch 2008, Equifac noted. "The March numberse provide a snapshotof what's been happening to the small businesx sector during this period of economic turmoil," said Reza head of Equifax's North American Commerciak Analytical Services Group, in a news "Not surprisingly, the highest number of small-business bankruptcies are in thoswe parts of the country where home prices have decreased dramatically, unemployment has increasecd significantly, and credit has become tighter.
" For the Equifax analyzed both Chapter 7 and Chapterr 13 filings. Chapter 7 is a liquidation proceeding in whichb a debtor receives a discharge of all while Chapter 13 is a reorganization bankruptcy enablin filers to pay off debt over a set perioof years. Equifax reviewed and analyzesd small business datafor March, the most recentf month for which complete data is available.