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Explain the criteria that are used to evaluate the credit worthiness of individual.

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Many factors are taken into account to determine one's economic state of credit.  The previous post alluded to a few.  One such indicator would be the prior economic history of the applicant.  Examining loan status reports, if there is a history of delinquent payments, past economic activity are all factors that credit officers take into account.  Additionally, occupational factors are included.  For example, a person's current income and what the future growth of that income might be is examined.  The tenure of the individual in that job and the stability of it would also be examined.  This would help to secure a better understanding if a person would be able to endure taking a loan and being able to pay it off in due time.  These factors exert considerable influence in establishing an individual's economic form of credit.

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