unpaid interest from bank

i have a loan po from one of the bank. i was granted a loan for 155K last dec 2009. I was able to pay my monthly amort fr jan 2010 to oct 2011. however,i couldnt pay the following month dur to financial crisis. after computing my total payments, I paid aprox 149K almost reach my principal loan amt. till now i couldnt pay due to financial difficulties. I coordinated with the bank that i am willing to settle the remaining amount but only base on what i can pay since the remaining balance is mostly interest only. & i informed then that am willing to pay the interest but not that big;interest for 3yrs for 155k is about approx 90k. I understand my obligation & the contract i signed that i will pay the interest, however i really cannot pay the remaining interest due to financial difficulties. I'd like to inquire what are the possible legal action they can charge me. & how possible is that? i also issued post dated checks for 3yrs as a requirement.however I immediate inform them to pull out the checks coz i closed my bank acct. as per phone conversation i have to issue another set of checks before they pull out the old checks. they never sent me notice of bouncing ck. but they are sending me notice to pay the whole remaining balance within the month. coordinating with them but they insisted that i have to apply for restructuring however they are forcing me to still pay the remaining interest. what can i do to handle this situation.thanks a lot for your help po.

possibly bp 22, avoid receiving any notice