If I was a 20 something Pilot that had recently lost my job after spending massive amounts of money to gain that coveted airline job with no other life skills, then I would simply declare bankruptcy and return to school and get a trade certificate! You can rebuild your credit while getting a real job... rejoin the workforce even as an apprentice, make some money, and eventually get your ticket while the airline industry regroups. Then rejoin the airlines with money in your bank!
It doesn't work like that. They will garnish a percentage of your wages until you die. You then have to get clever with how you earn money and how you hold assets if you wish to avoid paying your debts.