Binc’s Qualifying Events Explained

A qualifying event can often be easily explained. It’s easy to understand how a serious medical could create an overwhelming financial hardship for a bookseller. Some of the other qualifying events are more complex. In a series of blog posts (with accompanying downloadable posters) we will dig deeper into a number of qualifying events to explore the many ways Binc can help booksellers in times of need.

Loss of Household Income Downloadable Poster

Loss of Household Income

Easily the most complex of Binc’s qualifying events is the Loss of Household Income category. This category encompasses a variety of personal events that can lead to household financial hardship, preventing the bookseller from being able to pay essential expenses. Let’s explore examples of unexpected situations that could lead a bookseller to apply for assistance under Loss of Household Income.Childcare or Eldercare

  • A bookseller is the parent or legal guardian of a child or the primary caregiver for a parent or relative in their household.
  • An emergency need arose for child or elder care (i.e. weather-related school closing, illness of child or elder).
  • 50% or more of the bookseller’s scheduled weekly income was lost due to the emergency.

Death in the household

  • A bookseller experiences the sudden death of a wage earner residing in their household.

Disability

  • The bookseller or another wage earner in the household experiences illness or injury that requires them to be off work for a prolonged period of time.

Disruption of business

  • A store is forced to close unexpectedly due to disaster or severe weather.
  • 50% or more of the bookseller’s scheduled weekly income was lost due to the emergency.

Divorce or separation

  • A bookseller’s spouse or partner leaves the household and does not provide financial support due to divorce or separation.
  • A bookseller experiences the loss of court-mandated child support.
  • In some circumstances, the unexpected loss of a roommate can qualify for assistance.

Job loss of partner or spouse

  • A bookseller’s spouse or partner loses their job through no fault of their own.
  • The bookseller has a second job and it is lost through no fault of their own.
    • The loss of a bookseller’s job at the bookstore does not qualify.

For any application to the Binc Foundation the following criteria apply:

  • The declared loss of income must cause the bookseller to be financially unable to pay essential household expenses.
  • In many instances, up to three months essential expenses may be provided if there is sufficient evidence that financial equilibrium can be achieved during that time.

If you are still wondering if your circumstances apply – call or email. Binc 866-733-9064 or help@bincfoundation.org

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