I am with WWW on this one, if the debt is unsecured and is taking it's toll then bankrupcy will not ruin your life. If the debt is that unmanageable then the chances are you wont be able to get a mortgage or any other form of borrowing anyway. Once a bankruptcy is cleared, it is cleared and borrowing beyond that is unaffected - certainly in the cases I have heard of. If the debt is secured then bankrupcy could be a major problem for someone else. It is then your responsibility to dedicate your life to servicing the debt until it is cleared.
And this is my problem with the Ryanair TR for integrated cadets. A bunch of desperate buggers typically with £20K of uni debt, £/E100K of training debt and E45K of TR debt (taking into account terms of the debt).That's about E175K of debt! You may be a pilot but you'll have nothing to show for it and when you retire, you'll really see the consequences then. I am not having a go, I am just saying. And you'll need E60K to service the debt.