Freddie Has Gone Crazy with the Use of His Credit

Freddie has gone crazy with the use of his credit cards over the past several years.He would get a cash advance on one card to pay off another.He now owes a total of $80,000,all of it on credit cards,and has $40,000 equity in his house and other assets of $13,000.Assuming Freddie has a steady job paying $20,000,Freddie can:

A) not file for a consumer debt adjustment because his debts exceed his assets
B) not file for a consumer debt adjustment because it would take an unreasonably long time to pay off his debts based on his current salary
C) keep the equity in his home if he reaches a composition or extension agreement
D) file for a consumer debt adjustment only if he relinquishes the equity in his house
E) file for a Chapter 7 bankruptcy only