You basically have two choices: either you try to find a way to pay us back by selling assets (house, car etcetera) and using most of your wages to make good on the debt, or be forced to do this along the road because with the amount of money involved and and the fact that you actually do have something of value (assets and a job) it is profitable for us creditors to unite and start legal procedure to claim what is ours.
Actually, he needs to consult a lawyer about this. Liquidating assets in the pre-bankruptcy period will have implications for his bankruptcy so it's not something he should do without advice from an insolvency practitioner.