If the enterprise goes bankrupt, it is not necessary to repay all the debts. It is necessary to clean up and register all the property of the enterprise, and then distribute it to creditors to pay taxes.

You can't apply for personal bankruptcy, and you still have to pay back the money owed to the bank.

Consequences of non-repayment: the bank can urge you to repay, and if you don't repay, the bank can sue you in court;

Your credit history in the bank will have a bad record, and it may be very troublesome to apply for a loan to buy a house and a car in the future.

Supplementary answer:

1, if you don't pay back the money, you won't go to jail directly, but if the bank sues you for repayment with a court decision, and you refuse to carry out the effective judgment after the judgment comes into effect, you may be investigated for criminal responsibility (jail as you said), but if you really have no money, you won't go to jail.

2. What you said: When your house is loaned for the second time, the bank that borrowed for the second time will evaluate it. If the owner's value of your house is enough to repay the second loan, sell the house and repay the two bank loans respectively; If the full value of the house is not enough to repay the loans of the two banks, it will be repaid by mortgage.