Yep. Collect 100k for him and decide to pay it off yourself. That's all. You can give them future assistance based on your income, no more no less. If not you'll end up struggling like your parents
Mercychen:
See, op. He's your dad. Also remember he got into debt because of you. He meant well for you and if not for how everything turned out badly, you'll prolly be doing a 6 digit job and living large by now. So consider him and do this.
Take a 100k loan. at least you can conviniently pay back in case he defaults. Just test him with that first and see how it goes. Don't just turn him down outrightly.
That's all.