Distance

Yes, distance has no value compared to regular course in the same. 99% of the recruiters recruit candidates from regular courses with good academic profile. So concerning this, I can say that distance education has no value. But the scenario keeps on changing from time to time. So if you opt to do distance education, it may helpful to you to earn some money or add some value to your career but it will not work for you in near future say after 3 or 4 years. So I suggest you not to go for distance education. You may do the same course after 1 year, but make sure you do it through regular mode instead of distance.
As you have already got some work experience, you might have some practical knowledge over your core subjects. So you may give some gap to your work and concentrate on your studies. Remember years later, you will not be able to continue your studies because of your age and automatically your concentration will gets reduced. So I recommend you to go for the studies and soon after completion of the course you will get a fruitful job. In the job you may find after completing your regular course, you may even demand more salary.
Even if you choose distance education, there is another way to overcome this. You can try to get certified from renowned institutes by doing certificate courses related to your studies.

The difference as the name suggests is in the mode of study, while regular courses are classroom session courses where the student has to attend classes; distance/ correspondence courses are more about self study where the study material is sent to the student and she/he has to understand and learn it on their own. The prospects of a full time regular course are better than a correspondence or distance learning course. The acceptability and recognition of a full time course is higher in industry and so the long term career gains are more. Distance learning courses are ideally meant for those who are working and cannot leave their jobs to further education. It is thus an add-on to ones experience and not so much as a stand alone degree. Those who follow the distance route need to try some what harder to get good jobs, but jobs also are available for those who have the requisite talents, skills, strengths, personality and those who fit into the work culture of the firm. I would suggest that you seek admission in a regular course, else also evaluate options for part time courses. All the best.