Equifax: Small biz bankruptcies double in March - New Mexico Business Weekly:

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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptciese nearly doubled in March 2009 fromMarch 2008, Equifax "The March numbers provide a snapshot of what'xs been happening to the small business sector during this periord of economic turmoil," said Reza head of Equifax's North American Commercial Analyticalk Services Group, in a news release. "Not surprisingly, the highestt number of small-business bankruptcies are in thos parts of the country where home prices havedecreased dramatically, unemploymenr has increased significantly, and credit has becomd tighter.
" For the analysis, Equifasx analyzed both Chapter 7 and Chapte r 13 filings. Chapter 7 is a liquidatioj proceeding in which a debtor receives a dischargw ofall debts, while Chaptefr 13 is a reorganization bankruptcy enabling filers to pay off debt over a set periox of years. Equifax reviewed and analyzed small business data for the most recent month for which complet e datais available.