Can we still negotiate for a monthly payment of an unpaid loan after they are obliging us to pay in full?

Several employees in our agency were granted salary loan at Postal Bank last 2007. Unfortunately, many loans were unpaid until now. This year, the bank negotiate with our agency that they will let our own Employee's Cooperative apply for loan to them, then our cooperative will grant us loan in order to pay our debts to them. This is fine if we don't have other obligations... but everybody is so worried that if we concur to this arrangement, our debts becomes even more bloated since our cooperative does not really run the cooperative way. The interest is higher and half of the interest for the whole duration of the loan is deducted from our proceeds then half is added to our monthly amortization. So we really need to apply for bigger amounts so that we can pay our loan in the bank. The loans range from 50k-200k. Thus we would like to ask, if we can still negotiate with the bank, that they can allow us for a monthly payment to them just as long as not too high for us to afford, not like if we need to apply for another loan. If not, please give us advice how are we going to go into this... we are all willing to pay but not this high... Please help us...

In my opinion, mukhang gusto lang ng bangko na gawing mas simple ang paniningil nila at makaiwas sa sakit ng ulo sa paniningil sa inyo ng tig-isa. Kungyari isa akong opisyal ako ng coop ninyo, hindi ako papayag niyan dahil magiging tagasingil lang ang coop. Kung ako naman ay isa sa mga umutang, aba'y di lalo lang akong mababaon sa utang niyan.

Subject naman yan sa botohan ninyo di ba?
That is sunject to collective decision so kung ano ang mapagkakasunduhan ng marami, yun ang masusunod. Kung sakalit meron pa ring option not to be included, I would rather choose to pay my loan under the old agreement because once i sign that re-structured loan payment agreement, the old conditions will be novated already and i will be losing whatever rights i had before, if any.

This my mere opinion however based only on the facts disclosed so you better study the pros and cons as a group