There are significant penalties for individuals who attempt to defraud the state by undergoing the process of a bankruptcy by engaging in things like a concealment of assets or other items used by a Rockland County NY Chapter 7 lawyer to determine how debts should be resolved and repaid. Falling under the area of white-collar crime, making false statements during a bankruptcy proceeding can cause the entire process to become null and void or may allow debts to be reopened or revisited after they have been forgiven during the final bankruptcy process. Hidden assets may be subject to immediate liquidation by the courts.