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During the 80's American Airlines made new hire pilots sign a contract requiring them to re-emburse the airline if the pilot terminated employment to go with another airline within, I think, 5 years. At that time American had a B scale and I believe some pilots did take the training and split after gaining some experience. I never heard of a pilot being pursued in court to enforce the contract.
As for washing out of the program that's your call. My solution to these problems in life has always been go for it and worry about everything else later. As a new co-opilot you're basically broke and probably qualify for food stamps. What assets are they going to sue you for?
Good luck to you in your new career. It's not what it used to be but it's still fun, at least until you need to make a real income.
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