Resolution will be effective only if it is guided by clear principles including (i) affordability for the borrower of any modified repayment plan (that is to say, recognising the true scale of the problem based on a sufficiently comprehensive assessment of household financial conditions; avoiding unrealistic plans likely to result in recidivism); (ii) avoidance of unnecessarily formal legal procedures; (iii) avoidance of perverse incentives for strategic default by those who can truly afford to pay; (iv) no unavoidable losses to lenders, but banks to absorb unavoidable losses using their increased capital.
The current economic environment is conducive to growth and expansion and for a sector that has so much potential you should aspire to take advantage of this potential by putting your financial houses in order and setting a course for the future in a more tightly regulated framework.