As with everything, it depends.
Find out what your target airline prefers re cadets/modular/MPL/integrated. You do have a choice of many airlines being an EU citizen and you can probably speak a few languages very well. (I know my Belgian colleagues can).
You are right to be cautious re betting your father's house. A lot can go wrong and you're right to be mindful of it.
There's less risk if you go integrated on a tagged course. That is, you've done the selection for an airline and now you need to fund the ATPL. Personally, that would be the only time I'd bet the house - when you're on a tagged scheme. "White tail" or speculative integrated ATPL/MPLs carry more risk.
If you can find a good reputable school that does modular training, great. Ask them about their employment success rate post course, that'll give you a clue about the likelihood of a job post training. Timing also plays an enormous part in getting hired.