So, you applied for a loan with Transform Credit, and the good news is—you got approved! But there’s a catch: they need you to bring a cosigner. If you’re feeling stuck or unsure about your next move, don’t worry. You’re not alone, and there are clear steps you can take to secure a cosigner and move forward with your loan.
Why Does Transform Credit Require a Cosigner?
Transform Credit offers loans to people who may not have perfect credit, but they reduce their risk by requiring a cosigner—someone with a stronger credit profile who agrees to back you up. A cosigner helps reassure the lender that the loan will be paid, even if you hit financial trouble.
The Main Reasons You Might Need a Cosigner
Limited or Poor Credit History – If your credit score isn’t strong enough on its own, they want extra assurance.
Income Considerations – If your earnings aren’t high enough to comfortably cover the payments, a cosigner can strengthen your application.
Higher Loan Amount – The more you borrow, the more risk the lender takes, and a cosigner helps offset that risk.
Where to Find a Cosigner (Without Risking Your Relationships)
A cosigner is a big deal—they’re legally responsible if you don’t make your payments. That’s why many people hesitate to ask family or friends. If you’re worried about straining relationships, you have other options.
1. Ask Someone You Trust
If you have a financially stable family member or friend who believes in your ability to repay the loan, they could be a great option. Just make sure they fully understand the risks before agreeing.
2. Use a Verified Cosigner Service
If you don’t have a willing cosigner in your circle, avoid posting in random online groups—it’s risky and full of scams. Instead, visit a trusted cosigner matching service where you can connect with potential cosigners who understand the process and are open to helping responsible borrowers like you.
Learn more about why social media is not the place to find a cosigner and how to stay safe.
How to Strengthen Your Case When Asking for a Cosigner
When asking someone to cosign, make them feel confident about saying yes. Here’s how:
Show Your Payment Plan – Prove you have a budget and a solid plan to make payments on time.
Offer Transparency – Let them see your income and expenses so they know you can handle the loan.
Reassure Them – Make it clear that you understand their risks and won’t put them in a difficult position.
Key Factors to Consider When Choosing a Cosigner
| Factor | Why It Matters |
|---|---|
| Credit Score | A higher credit score improves loan approval chances. |
| Income Stability | A stable income reassures lenders of repayment ability. |
| Debt-to-Income Ratio | Lower debt levels make a cosigner more reliable. |
| Relationship Trust | A cosigner should fully trust you with the responsibility. |
What If You Can’t Find a Cosigner?
If no one is willing to cosign, here are some alternative paths:
Improve Your Credit – Work on building your credit score by paying off debts and making timely payments. Check out how a cosigner helps credit-building to understand your options.
Consider Smaller Loan Options – A lower loan amount may reduce the need for a cosigner.
Look Into Secured Loans – Some lenders offer loans backed by collateral (like a car or savings account) instead of requiring a cosigner. Learn more about using a cosigner for an auto loan and other secured loan options.
How a Cosigner Impacts Loan Approval (Statistics & Insights)
85% of applicants with cosigners have higher approval rates compared to those without.
On average, borrowers with cosigners secure loans with 30% lower interest rates.
A strong cosigner can increase approval odds by up to 70%, even for applicants with low credit scores.
Next Steps
Getting approved by Transform Credit is a great step toward financial flexibility. Now, your focus should be on securing the right cosigner—or finding an alternative solution. Skip the social media risks and find a reliable cosigner today to move forward with confidence.
Need more help? Check out our in-depth review of Transform Credit to better understand their lending process.