bank of america close my account ... & i'm upset & confused.

i owe them 32k. never was late except last month when i tried to set up an online thing and the payment was late. so they raised interest to 28% from 9.99. i got on the phone and they lowered it back. cool.
so i go online today to set up my december payment and i can't pay it. i call and they said they closed it because i owe so much and my income is not high.

now my credit is going to show that they closed the account. i said i'd like to open it up and then close it myself ebcause it looks bad for them to close it and they said pfff ... get over it.

since my score is gonna be tanked anyway what are my options? i do have a ton of debt and it is a huge stress in my life, but i was working hard to make my payments so my score would be cool. so should i do a debt mgmt since this card is already closed? perhaps get lower interest on it and my others?

or do debt settlement?

or bankruptcy.

besides my house and my student loans i owe 38k personal and 5k business.