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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearly doubledx in March 2009 from March Equifax noted. "The March numbers provide a snapshotyof what's been happening to the small business sectotr during this period of economic turmoil," said Reza head of Equifax's North American Commercial Analytical Services Group, in a news release. "Noy surprisingly, the highest number of small-business bankruptciew are in those parts of the countrt where home prices havedecreased dramatically, unemploymenty has increased significantly, and credif has become tighter.
" For the analysis, Equifazx analyzed both Chapter 7 and Chapter 13 filings. Chaptefr 7 is a liquidation proceedinbg in which a debtor receives a discharge of all while Chapter 13 is a reorganization bankruptcy enablingv filers to pay off debt over a set period of Equifax reviewed and analyzedc small business datafor March, the most recenty month for which complete data is available.
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