The debt that the deceased left behind can range from easy payday loans to long-term installment loans. The first step is to identify the type of loan they have and whether they had a guarantor for the loan or not.
The first step in dealing with the debt is to ensure that you are on the same page with the creditors. Inform them that you are working on repaying the loan left behind by the deceased.
Before handing down the estate to the heirs, it is better that you first pay down any loans that the deceased had. Start with secured loans such as mortgages.
As they could easily lead to losing the home or other assets to the lenders. Next, deal with funeral costs and estate administration costs and end with unsecured loans such as credit card debt.