Should fritz file for bankruptcy

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Reference no: EM13133810

Fritz is seriously considering bankruptcy because he has a large number of outstanding debts, the principal ones of which are as follows: (1) he owes his ex-wife $25,000 in back alimony and child support; (2) he owes $20,000 in guaranteed student loans; (3) he has a lawsuit pending against him in which his ex-girlfriend is asking for $50,000 in damages (the suit is based upon the intentional tort of battery and arises from an incident in which Fritz got mad at his girlfriend and hit her); and (4) he owes First Bank $20,000 for the loan securing his new sports car. Should Fritz file for bankruptcy?

Reference no: EM13133810

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