you can still file bankrupt, this is why we are now in a depression, cuz too many idiots here thought you just have to borrow money to become an airline pilot, and make big bucks...these guys and banks were wrong!
£20K is nothing considering you have to pay for CPL,MCC,T/rating , and all extra...(food, housing,...)
I guess unsecure loan is now over, with the risk of schools collapsing for lack of cash, I dont think banks will invest in a wanabes....
They(banks) did their homework, aviation is a bad investment...