What happens if you sell at a loss?

Hello,

Just wondering what happens in the event that I sell an IP but the sale price is only enough to say pay ~95% of the loan? What happens to the rest of the balance (and repayments) and is there any chance of negotiating with the bank to accept this amount as a full and final payment to clear it?

Sorry if this is a silly question :p

Thanks

What happens if you sell at a loss?