I don't work in finance but have been an executor and have encountered a range of odd things like this. I think it depends on the terms of each loan agreement. A mortgage for instance would still continue to accrue interest unless covered by insurance which pays off the loan on death. If someone has a life policy then usually this cancels all interest and actual capital debt on death. I would suggest that you get a solicitor to write to the banks asap to fully establish the terms. If someone has died owing money then the bank will claim against the estate, if that person left one.