Home / Investment / Tesla shares plunge 12% as investors wary of Elon Musk's Twitter plan – CBC News + MORE Apr 26th

Tesla shares plunge 12% as investors wary of Elon Musk's Twitter plan – CBC News + MORE Apr 26th

TSX getting you down? There are always sound investment alternatives.
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Body of missing Markham realtor found, 3 youths facing weapon, fraud charges - Toronto Star Aug 22nd

Body of missing Markham realtor found, 3 youths facing weapon, fraud charges  Toronto StarRemains of missing Markham woman found  CTV News Toronto‘Burned human remains’: Body of missing Ontario real estate agent identified  Global News HamiltonBody of missing Markha.... More »

The best high-interest savings accounts in Canada for 2025 + MORE Oct 27th

Savings comparison tool Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance. Advertisement Why trust us MoneySense is an.... More »

Does it make sense to retire when we’re still in a pandemic? Jul 28th

While the war in Ukraine has largely displaced COVID-19 as front-page news, that doesn’t mean the pandemic is done with us quite yet. In fact, COVID again made the front page of the National Post in early July, when it reported that half the Canadian population (more than 17 million) were infected.... More »

I hate working: What can I do about it? + MORE Jan 29th

Feeling drained, unmotivated or generally unenthused at work? You’re not alone. Many young people, particularly Gen Z, are grappling with job dissatisfaction and financial stress and wonder if they are destined for a loveless work relationship. With the pressure to succeed on top of a competiti.... More »
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Best FHSAs in Canada: Where to get the new first home savings account + MORE Dec 16th

MoneySense editors’ take Consider opening an FHSA before Dec. 31, 2023, even if you don’t intend to contribute right away. Unused contribution room can be carried forward one year, up to a maximum of $8,000. You can give yourself a maximum contribution limit of $16,000 in 2024 by opening the acc.... More »
Tesla shares plunge 12% as investors wary of Elon Musk’s Twitter plan  CBC NewsTesla Is on Pace to Lose $100 Billion in One Day  BNNTesla loses $126 billion in one day  Financial PostTesla Stock Drop Wipes Out $126 Billion in One Day  Yahoo FinanceWhy Elon Musk Is Already $29 Billion Poorer Because He’s Buying Twitter  ForbesView Full coverage on Google News

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Understanding scarcity thinking can help remove the shame of financial difficulties

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A MoneySense reader writes:

Help! I cosigned a motorcycle loan and then the owner passed away. Can you explain what my obligations are to the bank? Will my credit rating be affected? What are my next steps? – Amber

What to know about cosigning a loan

Anytime you co-sign for a loan, you’re automatically entering into a financial obligation as if it was your own. 

In your case, depending on how the loan was structured, as the co-signer, you may or may not have the title to (legal ownership of) the motorcycle. You will need to check with your creditor to determine your level of responsibility.

As the other party to the loan has passed away, the lender will likely contact both you and the estate representative to make arrangements to ensure that loan payments continue to be made, as you are equally 100% responsible for the loan. 

As a result, I recommend that you work with the estate representative to discuss how they would like to proceed in paying out the debt as part of their responsibilities in settling the estate…

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