The loan company went bankrupt, do you still need to pay back the borrowed money?

In modern society, loans have become an important channel to alleviate people's economic pressure, but some borrowers just want to avoid debts or really have no money to repay them, and they have been dragging their feet for a long time. Finally, the loan company went bankrupt, and the borrower thought it was unnecessary to repay the loan. Do you know that refusing to repay the loan is the right thing to do?

Refusal to repay is fundamentally illegal, but the interest exceeding the legal provisions can be refused. What are the benefits beyond the law? Generally speaking, the annual interest rate protected by law is 24%. If the annual interest rate agreed by both parties exceeds 36%, the interest exceeding 36% is legally invalid, and the borrower shall not repay the interest exceeding 36%.

If the annual interest rate is just 36%, do you still need to pay interest? Legally, neither support nor oppose. It has been returned to the loan company and cannot be recovered. If the borrower has returned the interest exceeding 36% per annum to the loan company, he is worried that he will not get it back. In fact, he can recover the interest through legal channels.

The loan company went bankrupt, so don't you need to repay the loan? The answer is that you still need to repay the loan. The company went bankrupt, but the debt record will not disappear. You may be blacklisted by the court, that is, you may be listed as an executor of bad faith. Although the loan company went bankrupt, you can still recover the loan amount from the borrower through formal channels, just like a lawsuit, which is why you were blacklisted by the court because you didn't pay back the money as soon as possible.

Also, when signing a loan contract, it depends on whether there are debt transfer rules. If the company goes bankrupt, the loan company has the right to sell the loan contract to another loan company, and the other company will take back the loan from you, so it is almost impossible to escape the responsibility of repayment.

In addition, in some cases, the loan company really can't ask the borrower to repay. These are two situations. First, the borrower borrows money for illegal activities, that is, the lender knows that the borrower borrows money for gambling, smuggling, selling counterfeit money or drugs and other criminal activities. This loan contract is not protected by law, and both parties will be confiscated, fined, detained and even investigated for criminal responsibility.

Second, the borrower conceals the facts of the loan, so this loan contract is legally invalid and not legally binding from the beginning of the act. The borrower's loan is used for gambling and other illegal activities, and the lender is unaware of it, but still needs to return the principal and interest according to the above-mentioned laws.