Dear Mr. Tennis,
I have a fairly simple holiday question to ask you. But I fear that even though the question is simple the answer, or advice, may be much more complicated.
So here goes…
In all of your intuitive sagacity do you believe that it would be bad form to ask family members if they could contribute to helping pay outstanding debts (i.e., bills) instead of giving presents? A little clarification may be in order (I told you this would be sticky). Now this would not be the same as asking for money outright, which would be pretty ballsy and probably not welcomed warmly. No, this is more like saying, “I would really enjoy getting some new-fangled electronic gizmo or the entire set of Robogeek I-XII on Blu-ray… but this year what I really need is leg up to get back on my feet, so to speak.” Cash in hand says to me that it says to other people that I may take this to Vegas for partying and bail money or that groceries might not be the only bags I purchase with this money. Also, a check is usually something from grandparents or for an unrelated celebration from an entirely different sect. I am a decent person and I am fairly responsible but times are tough and the bestest gift I can think of is the gift of freedom. Clearing up that debt gives me the freedom to visit and do more of those things I had to politely decline so that I could spend more time at work slaving away to make more money to eventually have more time to do more things with family. Deep breath … OK. You can see how this could foul up a person's "rasoodock" and lead to unwanted existential angst in the middle of a time of good will and good cheer. The holiday season is a time for charity but where the line should be drawn is kinda blurry. Or maybe it isn't.
Thank you for your time and consideration, sir.
No Presents of Mind
Dear No Presents of Mind,
If it is bad form to admit to family members that you have money problems, then I'm all in favor of bad form. If swallowing your pride in order to try to pay off your debts is bad form, then I am all in favor of bad form.
So I actually got to thinking about how you would make it possible for people who want to give you gifts to help you pay off your debts instead. People might want to do it anonymously. They might not want you knowing the exact amount of money they sent. So could people send money to your creditors? Well, they could, but it would have to have the right account number on it. Do you want to give out your account numbers? Maybe not.
So it could get complicated. So I made some calls.
One guy I talked to, a press contact at the American Bankers Association, suggested that maybe people could write a check to the lending institution you wish to receive the money and send the check to you and then you could fill in the account number. So the check would be payable to, say, Chase, or American Express, or PG&E, and then you would put your own account number on it. Of course, that means you would know who was giving what, so it wouldn't be totally anonymous. Or maybe, I thought, they could send it to an intermediary who would do this final step for you, so you would never really know who contributed what. Different lending institutions might have different policies. You might call your creditor and set up a way that people could send checks to them and identify your account.
I'm sure there are variations on this and other ways to go about it, like using a crowd-funding site such as Indiegogo or Kickstarter, or setting up a PayPal account that people could send money to. Have a party and collect cash in a hat and send it to Mastercard. There are lots of ways to go. You could easily over-complicate it. But basically I'm all for it. Especially if it's in bad form! Let's try to use this holiday for some rational economic improvement!
I am all in favor of being honest about your financial situation, and trying to do the thing that makes the most sense.
This could be a gift you would remember forever.
Good luck and happy holidays.