The Co-Signer Release Myth Exposed by Consumer Financial Protection Bureau
Lenders love to advertise co-signer release programs. CFPB research shows getting approved for a release is really difficult. However, their are ways around this issue.
Lenders love to advertise co-signer release programs. CFPB research shows getting approved for a release is really difficult. However, their are ways around this issue.
By partnering with smaller banks and local credit unions, LendKey creates an easier approval process and offers lower interest rates. LendKey gets a 4/5 star rating.
Complaints with the Consumer Financial Protection Bureau are taken very seriously by lenders. CFPB complaints help borrowers resolve their individual issues and shine a light on shady lender practices, which can lead to government lawsuits against lenders.
A helpful report from the Consumer Financial Protection Bureau identified a major risk for student loans with co-signers. Fortunately, the CFPB also had a strategy for fixing the problem.