Do I need to pay my debts after filing for bankruptcy?

Legal analysis: Yes, the bankruptcy of the company requires creditors or the company itself to apply to the people's court, and the court will organize shareholders, relevant authorities and relevant professionals to set up a liquidation team to conduct bankruptcy liquidation of the company in accordance with relevant laws, and the bankruptcy property will give priority to paying bankruptcy expenses.

Legal basis: Article 113 of the Enterprise Bankruptcy Law of the People's Republic of China. After paying off the bankruptcy expenses and debts, the bankruptcy property shall be paid off in the following order:

(1) Wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees, basic old-age insurance and basic medical insurance expenses owed to employees' personal accounts, and compensation that should be paid to employees according to laws and administrative regulations;

(2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph;

(3) Ordinary bankruptcy claims.

If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion.

The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.