There may be two situations when a loan company goes bankrupt:
First, it was absorbed and merged by other companies. In this case, the merged company will inherit its rights and ask the borrower to repay its loan.
Second, the company went bankrupt. In this case, the money lent by the loan company will be classified as bankruptcy property and used in bankruptcy distribution.
So the loan company went bankrupt, and the money borrowed by the borrower should be paid back.
Extended data
According to Article 93 of People's Republic of China (PRC) Contract Law
The parties may terminate the contract if they reach an agreement through consultation.
The parties may stipulate the conditions for one party to terminate the contract. When the conditions for contract termination are met, the creditor may terminate the contract.
Article 94 Under any of the following circumstances, the parties may terminate the contract:
(a) the purpose of the contract cannot be achieved due to force majeure;
(two) before the expiration of the performance period, one party clearly stated or indicated by its own behavior that it would not perform the main debt;
(three) one party delays the performance of the main debt and fails to perform it within a reasonable period after being urged;
(4) One of the parties delays the performance of debts or commits other breach of contract, which makes it impossible to achieve the purpose of the contract;
(5) Other circumstances stipulated by law.
Article 95 The time limit for exercising the right of revocation shall be prescribed by law or agreed by the parties. If the parties fail to exercise their rights at the expiration of the time limit, the rights shall be extinguished.
If the law does not stipulate or the parties have not agreed on the time limit for exercising the right of cancellation, and the right is not exercised within a reasonable time after being urged by the other party, the right shall be extinguished.
Resources Baidu Encyclopedia-Bankruptcy Property