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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Calif. Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcied nearly doubled in March 2009 from March Equifax noted. "The Marc numbers provide a snapshotof what'd been happening to the smalk business sector during this period of economic turmoil," said Reza head of Equifax's North American Commercial Analytical Servicese Group, in a news release. "Not surprisingly, the highest numbet of small-business bankruptcies are in those parts of the country where home priceds havedecreased dramatically, unemployment has increased significantly, and credit has becomse tighter.
" For the analysis, Equifax analyzed both Chapter 7 and Chaptee 13 filings. Chapter 7 is a liquidatiojn proceeding in which a debtord receives a discharge ofall debts, whilw Chapter 13 is a reorganization bankruptcy enabling filers to pay off debt over a set period of Equifax reviewed and analyzexd small business data for March, the most recent month for whicuh complete data is available.
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