Cosigner Responsibilities

At Transform Credit our customers mean everything to us - so we work hard to be as open as possible. We've made this bit of the website for current and potental cosigners, so you'll have all the information about what's expected from you. The most important thing for us is that you feel comfortable, treated in a fair and honest way and that you know what you are saying yes to. That's why we never pay out a loan without going through responsibilities and expectations with you. Being a cosigner is a serious commitment, so it's important that you truly understand the consequences.


A cosigner is responsible for paying the monthly repayments on time and immediately in any event that the borrower does not make the payment.


The cosigner is responsible for keeping in touch with us on the loan and contacting us if we ask them to.


The cosigner understands that they are legally responsible for making sure the full loan contract is stuck to, and cannot leave that responsibility at all until the loan is repaid in full.

Consequences of not paying

Should I say yes to be a cosigner?

To help you as much as possible, we've put together a simple test which can help you with your decision. Think of it as a "should I be a cosigner? " test.

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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, then there'll 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.

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