Ebook Business Bankruptcy Study State of North Dakota
This study includes all business bankruptcies filed in the Bankruptcy Court for the State of North Dakota from January 1999 until July 2004 a total number of 515 cases. The study includes all chapter 7, chapter 11, chapter 12, and chapter 13 filings that include business.
The beginning hypothesis of the study is that businesses declaring bankruptcy will have excessive unsecured debt also evidenced by an increased amount of credit card debt. It is reasoned that as legitimate sources of debt capital become more difficult to secure that the use of easier but more expensive credit in the form of credit card debt is used.
With the increased marketing of credit cards aimed at and designed for small businesses by Visa, MasterCard, and American Express it is likely that this trend will continue to grow. The promises of low introductory rates and tools designed for small business will in all probability increase the use of credit card debt by small businesses.
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