question on restructured credit card loan

my credit card loan was restructured in 2009 and i signed an agreement to pay a fixed amount in 2years. however, when Ondoy devastated my properties, i called up the bank to extend the term of my loan because i would not be able to pay as agreed. i told them (over the phone ito) that i would need the money to rebuild my haus and have my car repaired. the bank told me that they can't extend the term but will allow me to pay just what i can afford and they want everything settled at the end of the term which is on sept 2011. i am worried because i still owe them around 200thousand (as of my last computation). i have not changed address and contact information.

i plan to re-negotiate before september comes, at ipipilit ko sana i-extend yung term kahit one year. kung hindi po sila pumayag, and they threaten to sue me, pwede ba yun, kung wala naman ako talagang pambayad? what else can i do? pls help.

yes, they can file a collection case, and they can execute against your properties. but i do not believe any criminal case will prosper.