The short answer is yes. Bankruptcy is not a sin and bankruptcy is not the problem. The problem is caused by behaviors such as living beyond one’s means, or failing to exercise wisdom in spending decisions.
Filing for bankruptcy is a complicated process. Those who are going through the process are doing so to try to recover from debts and take financial responsibility in the future. There are many blunders that people make that may result in their case being thrown out. Reporting all assets is essential in a case, and failure to so will all but deplete the chances of achieving bankruptcy status. Hidden assets are one of the major causes of a bankruptcy filing being turned down.