A group which helps struggling mortgage-holders says lending institutions must face up to the fact that some level of debt-restructuring is inevitable.
Latest figures from the Central Bank show that in November, almost 100,000 mortgages in Ireland were either in arrears or had been restructed.
New Beginnings founder David Hall, said: "Most banking organisations probably now realise that the debt as it currently stands is probably not possible to pay back.
"Therefore, there's an inevitability about some level of re-structuring. The willingness to do that is the concern."