What if the loan company goes bankrupt?

Legal analysis: If the platform borrowed by the borrower is a formal lending platform, then the money should be returned to the lender. Applicants should pay close attention to the follow-up and disposal of the closure of online lending companies by public security, courts and other departments in a timely manner, and borrowers can make the next move in time according to the latest trends. Even if the platform closes down or runs away, but the electronic contract really exists, the borrower should fulfill the repayment obligation according to the contract content. As long as the amount and interest applied by the online loan company are repaid, the personal credit information will be automatically cleared within 5 years after repayment.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.