Legal analysis: If the company goes bankrupt and is insolvent, the guarantor will still bear the guarantee responsibility stipulated in the guarantee agreement. When the bankruptcy application is accepted, the unexpired creditor's rights are deemed to be due. When the bankruptcy application is accepted, the interest-bearing creditor's rights shall cease to bear interest. "As the principal creditor's right expires, the guarantor shall assume the guarantee responsibility from the date when the independent creditor's right expires, that is, from the date of bankruptcy declaration. Usually, the guarantor can't undertake the guarantee responsibility before the principal debt expires, but because the principal debtor goes bankrupt, the guarantor can undertake the guarantee responsibility in advance.
Legal basis: Article 46 of the Enterprise Bankruptcy Law of the People's Republic of China, when the bankruptcy application is accepted, the unexpired creditor's rights are deemed to be due. When the bankruptcy application is accepted, the interest-bearing creditor's rights shall cease to bear interest.