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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Oakland-Fremont, Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercialp bankruptcies nearly doubled in Marcyh 2009 fromMarch 2008, Equifax noted. "The March numbers provide a snapshotof what's been happening to the smalll business sector during this periofd of economic turmoil," said Reza Barazesh, head of Equifax's North American Commercial Analytical Services Group, in a news "Not surprisingly, the highest number of small-busineszs bankruptcies are in those parts of the country wherr home prices have decreased dramatically, unemployment has increasec significantly, and credit has become tighter.
" For the Equifax analyzed both Chapter 7 and Chapter 13 Chapter 7 is a liquidation proceeding in which a debtor receives a discharge of all debts, whilse Chapter 13 is a reorganizatiob bankruptcy enabling filers to pay off debt over a set perioed of years. Equifax reviewed and analyzed smal l business datafor March, the most recent month for whichh complete data is available.
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