Cwmnbranman
I did the ATPL theory part time whilst working two jobs (one full time and the other around 5-10 hours per week). I started studying in my late thirties and completed the whole set start to finish in about 13 months. Clearly this is longer than sitting them full time, but there's no way I can afford to be without an income for 6 months.
It is entirely do-able distance learning, but it isn't easy. I would like to have had the luxury of being able to have the knowledge spoon-fed to me, so if you can afford to do things that way, then go for it. If not, it's not the end of the world; you just have to work that little bit harder.
There's no promise of a job at the end, though, so be sure you really want to do it and don't burn any bridges on the way.