The only way to make an agreement legally binding is to look into a goverment arrangement called an IVA. An IVA last for an average of 5 years. But an IVA has to be agreed by your creditors. The return back to your credtiors plays a big part in the IVA being accepted, but there are a number of other factors the creditors take into consideration. Also, the payment you contribute into the IVA, cannot be garenteed to stay the same for the full term. You may get a pay increase or decrease in your job, therefore you would be expected to pay either more or less towards your debts. An IVA is something you would have to qualify for, we here at the Debt Advise Trust, could have a look into your details for you and find out if this is a way for you look into further, if not there are a number of other routes we could also take a look at with you and discuss in more detail. Hope this helps