One has many options when negotiating unsecured debts

Option 1: Bankruptcy
Bankruptcy should be a last resort option. This will ruin your credibility and you will face trouble in the future when acquiring a loan.

Option 2: Debt Consolidation Relief
Debt consolidation relief allows you to pay a lump sum of all you debts to the institute. This is used for credit card debt relief, student loans and medical bills because these are usually what unsecured loans are.

Option 3: Redesign payment plan
One can completely redesign their payment plan to extend the time period and pay the amount at a slower rate. You will need the help of a financial institution to do this.

Option 4: Credit counselors
Often lenders will not agree to your terms and it will be difficult to convince them to help you so in such an event you should hire a credit counselor to help you negotiate. They will assist you in effectively persuading the lender to agree to your terms.