I believe my business is not worth what I agreed to pay for it - Where do I stand

[Guest]

I purchased a business almost a year ago and haven't been able to make the monthly payments to the person I bought it from. They originally allowed me to reduce the payments which I struggled to pay so allowed me to further reduce the payments.

I have now decided that the price we originally agreed was too much. Could anyone tell me where I stand, is there any way I could get the original agreed price reduce to suit me.