Knowing exactly how bankruptcy is going to impact any assets that a person owns is very important before they decide to declare it. They must have a grasp of the different types of bankruptcy -- such as Chapter 7 or Chapter 13 -- and they must know the intricacies of each. This is the only way for them to choose the one that fits their situation, and it ensures that they know exactly what is coming in the future.
The way that this plays out can clearly be seen in Arlington Heights, Illinois. In that town, a building that used to be an Applebee's location was just sold on E. Algonquin Road. It is around 5,500 square feet, and it carried a sale price of $1,360,000. Pictures of the building show its distinctive style, though the awnings, signs and other decorative items that marked it as part of the chain have been taken down.