It's 70G it's worth a try. Speak to citizens advice or a debt charity, solicitor before signing anything again.
No it isn't, you borrowed the money so you should now try you upmost to pay it back. You are the one asking to renegotiate the terms of the loan and kindly the bank has agreed to do so. I believe you will find it is called "taking responsibility for your own actions". Something that may serve you well in your furture career but is sadly lacking in many young people today
