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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commerciak bankruptcies nearly doubled in Marc h 2009 fromMarch 2008, Equifax "The March numbers provide a snapshott of what's been happening to the small business sectotr during this period of economic turmoil," said Reza Barazesh, head of Equifax'ss North American Commercial Analytical Servicex Group, in a news release. "Noyt surprisingly, the highest number of small-businesse bankruptcies are in thoses parts of the country where home prices havedecreased dramatically, unemployment has increased and credit has become tighter.
" For the analysis, Equifax analyzed both Chapter 7 and Chapterd 13 filings. Chapter 7 is a liquidatiom proceeding in which a debtor receives a discharge ofall debts, while Chapter 13 is a reorganization bankruptcy enabling filers to pay off debt over a set period of Equifax reviewed and analyzec small business data for the most recent month for which complets data is available.
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