Personal Guarantee Write Down?

Horse 24

Has anyone had any experience writing down personally guaranteed debt?

To give some background.

A personal guarantee was provided by me the director and main shareholder of a company to guarantee overdraft facilities provided to the company by our bank.

After the liquidation there will be a outstanding balance of €150,000 due to the bank all of which is personally guaranteed.

This guarantee covers a personal deposit account containing €75,000.They rest of which is going to be very difficult to find.

I have heard of people negotiating down guarantees with banks but nothing concrete.

If anybody has had experience of this advice would be greatly appreciated?