TransformCredit : Cosigner Loans | Get a Loan, Even with Bad Credit | Transform Credit

Cosigned Loans

A new type of loan based on trust and ability to pay, NOT your past credit history.

If your cosigner trusts you then we will too.

So... What is a cosigned loan?

A cosigned loan is a new type of loan that is all about human relationships and trust, rather than computerized credit history. A cosigned loan is for people who may have had some trouble paying bills in the past - but are now in a position where they can manage their money and afford the repayments. The only problem is that the banks don't think they will. That's why we say that if your friends and family trust you, we will too.

A cosigner is a friend or family member who knows you and trusts you. They understand your financial situation and they agree to make the paymets for you if for some reason you can't - simple!

Most customers use a friend or family member, but anyone can be a cosigner. Just to give you an idea, we see neighbors, work colleagues and employers all supporting people they know and trust.

To be a cosigner, you need to have a strong credit score and a history of paying your bills on time. As a cosigner, you are responsible for making the loan repayments if the borrower cannot. So it's really important that you are able to comfortably afford the monthly repayments.

Apply to be a cosigner

At Transform Credit we believe that your friends and family know you best. They know your current situation and they'll know better than anyone, if you can manage a loan. That's why we always ask for a cosigner on our loans.

Being a cosigner for someone means that you believe they're able - and willing - to make the repayments. And that if they don't pay, for whatever reason, then you will make the loan repayments.

If you want to be a cosigner you need to have a good credit history (homeowners are more likely to be accepted) and a history of paying your bills on time. You must be able to afford the monthly repayments, in case the borrower can't pay.

Register as someone's cosigner

If you have been asked to be a cosigner and are ready to register then enter your unique Transform Credit cosigner link here:

Should I be a cosigner?

To help you as much as possible, we have put together a simple test that can help you with your decision; the "should I be a cosigner" test:


Do you trust that the borrower plans on paying the monthly installments on the loan?

Do you trust that the borrower can actually afford the monthly installments?

If for some reason the borrower can't (or won't) pay the monthly installments, are you prepared to do it? Can you afford it?

Do you understand that you'll be responsible for repaying the loan if for some reason the borrower doesn't?

Do you understand that if the loan isn't repaid on time, there will be serious consequences for both you and the borrower: we'll pass the case onto debt collection, which means that you'll have to repay the entire loan amount at once. Your credit score will also be negatively affected, which will make it very difficult for you to borrow in the future.

Great News!

It sounds like you know the borrower really well and trust them. You want to support them in their loan application, and that is also a great thing to help with - as long as you are safe.

If you are ready to register then enter your Transform Credit Loans unique cosigner link given to you by the borrower then enter it here.

It looks like you should not be a cosigner at this time

For more information check out our Cosigner Responsibility article.

Is a cosigned loan right for me?

Back in the good old days if you needed a loan, your local bank would simply ask for someone who trusts you to cosign it. Then things changed, computer credit scores took over and millions of good trustworthy customers were left out in the cold.

This is why our loans are based on trust, not automated credit scores. It doesn't matter if you have bad credit, or are self employed - to us the most important thing is that you can afford to repay the loan and that you have a friend or family member who trusts you enough to be your cosigner.

To find out if a cosigned loan is right for you, simply answer the questions below.

Wondering who could be your cosigner?

Why not take our 30 second cosigner suitability test

Simply answer the questions about your chosen cosigner below.


How old is your cosigner?

Is their credit score 750 or more?

Does your cosigner have a good history of paying their bills on time?

Does your cosigner own their own home?

Does your cosigner trust you and understand your financial situation?

Great, your chosen cosigner is suitable!

Based on your answers, it looks like your cosigner is a great match on our criteria and would be suitable to be a cosigner on your loan.

Unfortunately the cosigner you have chosen is unsuitable!

Based on your answers, it looks like your cosigner does not match our criteria, and would not be accepted with us as a cosigner.

Who should be my cosigner?

If you are not sure about who you could possibly ask to be your cosigner, or who people often pick as a cosigner, take a look below to find out about the relationships of customers cosigners.

Who are you thinking of asking to be your cosigner?


There is something special about the bond we have with our moms - and that's why we turn to them the most often when we need a helping hand. Borrowers asking their moms to be their guarantor is the most common relationship we see at Transform Credit. Over 20% of our loans are guaranteed by moms.

Perhaps this is because it's our moms we feel most comfortable discussing finances with - knowing that they will understand us and trust us. We love all the moms out there and think that they're great. As long as your mom meets the criteria, they make excellent cosigners in our opinion.


When it comes to thinking of someone responsible and good with money - a lot of us turn to our fathers. It would seem that asking your dad to be cosigner is more popular with guys than girls - with 68% of dad cosigners being for their sons and only 32% for daughters.

We think dads make excellent cosigners for sons and daughters. Our dads understand us, and more often than not trust us to behave responsibly with our money.


Most people can't beat the relationship they have with their brother's, it's a special relationship forged with years of early joint experiences. After our parents, it's our brothers we turn to most often with more than 1 in 10 of all Transform Credit customers turning to their brothers for help.

In our experience brothers really do have your back - and are there for you when you need them, making excellent cosigners and even better lifelong friends.


Closely following brothers is of course sisters as cosigners.

10% of Transorm Credit customers turn to their sisters when thinking about someone who knows them and trusts them to be their cosigner.

Just like our brothers, we have a special bond with our sisters and always look to help each other when we need them. Trust, understanding and non-judgment are foundations of the sister relationship, that's why they make amazing cosigners.


While family make up a lot of our cosigners, we should never forget that some of the strongest relationships we have are with our friends.

Many of us are lucky enough to have very supportive and close friends - it's these guys that make up 12% of cosigners on Transform Credit Loans.

Sometimes it's our friends we feel most at ease with and feel like we can talk to them about our situation.

As long as your friend really understands your situation, and are happy to support you - we think they are amazing cosigners, and really are friends worth keeping forever.


When it comes to people who know our financial situation, our work colleagues are a great place to start. It's not unusual for our work colleagues to have a good idea of our income as well as what we are like as people: trustworthy, responsible, reliable - work is a good place to start.

That's why over 10% of all cosigners are friends from work.

We think work colleagues make ideal cosigners. They know you, they trust you, and you support each other at work everyday.

Someone Else

While we have tried to give you a good idea of the most common cosigner relationships - we have only really scratched the surface. Anyone who knows you well, trusts you and meets our criteria can be your cosigner. We get to know all sorts of different types of friendships at Transform Credit, from flatmates to landlords and employers to extended family members like aunts, uncles and cousins. Almost 20% of all Transform Credit Loans customers have cosigners who are 'other' - so anyone you can consider anyone who might be right for you.

How do I ask my Cosigner?

Write down your income and outgoings and make sure you can afford the loan repayment each month.

Ask your potential cosigner if you can have a chat with them about your finances - because you would like their help.

Put the kettle on and make a nice cup of coffee or tea.

Explain to your cosigner why you need to borrow the money.

Show them your income and outgoings, to show that you can afford the loan.

Explain to them what a cosigner is - use our website if you like, and make sure they understand that it will be their responsibility to make the monthly payments if for any reason you cannot. We will explain this to them as well later if they proceed.

Do not pressure them. We all like to help our loved ones, but it's very important that they make a decision by themselves. It's a big responsibility to be a cosigner - so make sure you give them the right time and information to make their own decision.

Say thank-you. If they do choose to be your cosigner give them a big hug and say thanks - they obviously trust you very much and want to help you out.

How does my cosigner apply?

We have tried to make it really simple for your cosigner to register with us, and we are always on hand to help if needed.

Responsibilities of a cosigner

As a loan provider, it's very important to us that we're responsible with the decisions we make and the way we communicate.

One of the things we work really hard on is making sure that all our borrowers and all our cosigners are fully aware of their responsibilities.

We see lending as a process of making promises.

We promise to lend money to you, keep you informed, treat you with respect and always do our very best to help you as quickly as possible.

You promise to stick to the repayment terms we have agreed with you and communicate openly and honestly with us.

Your cosigner promises to make the monthly repayments in the event that you are unable to pay for any reason at all.

We go to a lot of effort to make sure this is clear to any cosigner before paying out the loan. Being a cosigner is a serious responsibility, and we would not encourage anyone to sign a cosigner agreement if they're not happy with the cosigner promises.

If you want to know more about your responsibilities as cosigner, then please contact us anytime and we will be more than happy to talk you through it.