Monday, April 2, 2012

Equifax: Small biz bankruptcies double in March - St. Louis Business Journal:

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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 from March Equifax noted. "The March numbers provide a snapshotfof what's been happening to the small business sector during this period of economix turmoil," said Reza Barazesh, head of Equifax's Norty American Commercial Analytical Services Group, in a news "Not surprisingly, the highesg number of small-business bankruptcies are in those partw of the country where home pricesa have decreased dramatically, unemploymeng has increased 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 debtod receives a discharge of all debts, whiled Chapter 13 is a reorganization bankruptcy enabling filerxs to pay off debt over a set period of years. Equifax reviewed and analyzef small business data for the most recent month for whicbh complete datais available.

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