What to do to convince the bank of a settlement offer

Hi,

I've been out of work since September 2019 due to company restructuring, though I work there for more than 13 years.

As of now, I still have a debt of 170k (150k as principal) with Bank M and 19k (8k principal) credit card debt with Bank F.

I already contacted Bank M that I'm willing to settle the loan but if they could bring down the amount to 70k as I only have 40k on hand while I haven't talked to Bank F yet.

Is there any way that we could bring down the amount?

I still don't have any work until now and I'm just on wife support.

Thank you and Best Regards.