Rules say to continue in VMC and land on nearest suitable airport.
BUT... be sure you can maintain VMC.
Otherwise you have to continue in IFR, setting 7600 and follow the FPL after a certain timing according to the different scenarios.
Fly to the appropriate designated navigation aid for destn apt (which are detailed in the EMERGENCY section, "ICAO differences or state special procedure"), perform an instrument app and land, if possible, within 30' after ETA.
Font : Jeppesen, EMERGENCY, page E-22.
Hope this help.
P.S. - Sometimes shortcircuit can do that happen regardless of the acft you are seated on.