If they lower the loan balance on any loans it would be theft from everyone that has ever honered their loan agreements!
If they don’t make the payments throw them out in the street, no exceptions!
The same can be said of everyone that files for bankruptcy. We have a way of dealing with that, we just put a blotch on your credit report for ten years.
Too bad they won't do that for the renegiotiators, but the creditors can keep it in place for seven years under current law.