(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 $25,000.00 in back alimony and child support;(2) he owes $20,000.00 in guaranteed student loans;(3) he has a lawsuit pending against him in which his ex-girlfriend is asking for $50,000.00 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 beat her up); and (4) he owes the First Bank $20,000.00 for the loan securing his new Alfa Romeo sports car. Should Fritz file for bankruptcy? Please explain and discuss fully.