To offer unlimited credit to young people to be overhauled

[Rich7]

Test No. incompl/advan-38 "Are You in Debt?", question 2

There is a popular demand for the system that allows credit companies to offer unlimited credit to young people to be ..........

(a) overhauled
(b) overseen
(c) overlooked
(d) overtaken

Test No. incompl/advan-38 "Are You in Debt?", answer 2

There is a popular demand for the system that allows credit companies to offer unlimited credit to young people to be overhauled.

Correct answer: (a) overhauled
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could you please. explain the whole sentence?

[Alan]

The arrangement whereby young people get too much credit needs to be looked at/to be examined and improved.
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English as a Second Language
You can read my ESL story Present Simple

[Rich7]

That one is one of the meanings that I found in the dic. but did not make sense to me at the moment.
Now I got it quite clearly.