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Sacramento, Calif. Chicago-Naperville-Joliet, Ill. Anaheim-Irvine, Calif. Calif. Portland-Vancouver-Beaverton, Ore.-Wash. Commercial bankruptcies nearlh doubled in March 2009 fromMarcj 2008, Equifax noted. "The Marchj numbers provide a snapshotof what's been happening to the smallk business sector during this period of economic turmoil," said Reza head of Equifax's North Americamn Commercial Analytical Services Group, in a news "Not surprisingly, the highest number of small-business bankruptciess are in those partse of the country where home prices have decreasesd dramatically, unemployment has increased significantly, and credit has becom tighter.
" For the analysis, Equifax analyzexd both Chapter 7 and Chapter 13 Chapter 7 is a liquidation proceeding in whichy a debtor receives a dischargew of all debts, while Chapter 13 is a reorganizationj bankruptcy enabling filers to pay off debt over a set period of Equifax reviewed and analyzed small businesss data for March, the most recentg month for which complete data is available.
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