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"Credit evaluation" is a process that a lender goes through to check if you're trustworthy enough to borrow money. They look at things like how much money you make, how much debt you have, and whether you've paid your bills on time.
For example, if you want to buy a house and need a loan from a bank, they will ask you for information about your income, savings, and debts. They will also look at your credit report, which shows how you've handled money in the past. Based on all of this information, the lender will decide whether or not to approve you for a loan.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Oh, the credit evaluation, it's a funny thing
The lenders check your records, to see if you can swing
They'll ask you for your income, and all your debts, too
And see if you've been paying bills, like you're supposed to do
They'll take a peek at your credit report, oh my!
To see if you've been good with money, or if you tell a lie
And based on all of this, they'll decide what they can lend
So you can buy that house, with a loan that you can spend!