Now that many online loans have closed down, do you still need to pay back the money you owe?

Legal analysis: if the online loan company goes bankrupt, it will pay back the money. The money borrowed from online lending companies will not disappear because of the bankruptcy of online lending companies. The loan relationship between the borrower and the online loan company still exists. Only when the borrower pays off the money will this loan relationship end.

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

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.