Monthly Archive: February 2019

Personal loans and Isee: guide and considerations


Personal loans and Coar : how does it work? The Coar statement, otherwise known as DSU, or Unique Substitutive Statement, is used by individuals and families to obtain free social benefits and specific deductions, from family allowances to the university fees, just to give two simple examples: this document compiled it is used to evaluate the assets owned and in general to “measure” the wealth of a family unit. It is therefore a fundamental element for accessing benefits and facilities of all kinds: and what do personal loans have to do with it ? In the Coar the average deposit of the current account becomes decisive, a value that is calculated taking into account all the money that transits from the current account, thus also the provision of a loan. Below we try to answer the question of many families and subjects on the subject, or what is the relationship between Coar and loans, if and how they are calculated, although subsequently they must be returned to the financing institution, and some final considerations regarding.

Are loans taken into account when requesting discounts with Coar?

Starting from the initial question, the answer that must be given is yes, in the I see document fall all the sums of money that pass from the current account, and that therefore end up in the calculation of the average deposit: therefore also the personal loans to be repaid by repayment monthly installment. On the contrary, indeed

the debts are not considered in the Coar : the fact that the loan is to be repaid does not contribute to the decrease in the family property, with one exception recognized by the State among the various types of financing, ie the loan for the first house.

What must be declared in the Coar

The amounts to be declared in the Coar’s property are quite numerous, and they do not only see the capitals that pass through the current account, but also include the prepaid cards with IBAN code or without, the deposit accounts both free and tied, current accounts postal savings accounts, bearer or bank account books, and transitory bank accounts. You also have to declare in this document the ownership of any securities, shares, bonds or “active component securities owned”: all these rumors, which are trivially to the money coming into the family ménage, are called active components and are all counted nell’Coar, as they increase the assets. Instead,

the passive components, ie those that contribute to its reduction, are not considered with the exception of the loan for the first house, as we anticipated. As a result, when you go to ask for a personal loan, the sum received all at once through the direct disbursement of the financing body is an integral part of the active components, even though they are amounts that must be returned: doubts and the grievances expressed by the public opinion did not lead to the modification of this aspect of the Coar, which was born in order to avoid false and misleading statements about its economic-social status.

How to calculate the average stock

In the Coar document should be inserted the average stock within its current account or alternatively the balance as of December 31 of the previous year, depending on which is the highest value of the two: what is it? How is the average stock calculated? This value represents the average of the credit amounts over a period of one year, and to calculate it we must:

  • Calculate the daily inventory for each day of the year
  • Add all the amounts obtained
  • Divide the result obtained by 365

If the procedure described above is cumbersome and you want to simplify it, then you must take your statements, add all the total credit numbers and divide the number by 365. It is important to cover the whole calendar year: banks generally send their accounts an account statement every three months, so the average deposit can be obtained by adding the total credit numbers of all four quarters. Alternatively

if the amount of the current account at December 31 of the previous year is higher than the average balance, then this figure must be included in the Coar declaration. Always remember that if the asset reduction depends on the purchase of a property, then this rule should not be applied since the first home loan is recognized as a passive component.

I just received a loan: what to do?

Loan counting has thus become a bone of contention between industry experts and state technicians, who wanted to count personal loans as an active component in the Coar document, although they are a capital to be repaid monthly through an amortization plan agreed upon financier body. Therefore, the paid capital, when it is credited to the current account, will make the stock rise, at least temporarily. What to do to repair what appears to be a great injustice? The first easy answer would be to withdraw the money in the branch without resorting to credit on the account, but not all banks allow it, even more so if you have received substantial funding. On the other hand, if you want to get some free or facilitated social benefit

it is advisable to withdraw the money received on loan as soon as possible from the current account, so that it does not produce interest payable by the current account holder, increasing the average daily stock which will then affect the calculation to be included in the Coar, reducing probability of access to goods and services provided by the state.

Final considerations

The question about the relationship between Coar and loans is unfortunately clear: in the document   debts are considered only in the calculation of the active components and not of the passive ones, however there is a deductible that is deducted from the total assets of any taxpayer: this deductible starts from a minimum of 6 thousand euro and increases by 2 thousand euro for each component of the family in addition to the first, up to a maximum ceiling of 10 thousand euros, which rises of 1000 euros for each child who becomes part of the family unit following the second. The Coar document was born for a just reason, that is to avoid that the “smartbetti” can access free or facilitated social services, designed for the weakest and most economically disadvantaged social classes; but due to an excess of prudence, the State also wanted to include personal loans among the active components, decisively influencing the value of the average stock.

It is not excluded that in the coming years corrections can be made to mitigate this distortion effect linked to the provision of loans on the current account, making common sense prevail: at the moment the advice to circumvent that a personal loan weighs on the Coar document is the one suggested in the previous chapter, or immediately use the sum received from the financing body : although it involves heavy burdens, it is the only way to avoid that households most at risk of social and economic exclusion can not obtain the benefits that would be law.