Should I contact debt collectors or wait for them to contact me?

A couple of years ago i got myself in trouble with a credit card with barclaycard (i'm an idiot I know). However I now have enough money to clear the account (though ideally I would like to make an offer to pay a bit less as I know this could be accepted). I've moved house since the debt and they haven't been able to trace me yet. According to my credit report which I checked today the Barclaycard is closed but there is a new debt for the same amount with a debt collection agency. Should I write to the debt collection agency and try and clear the debt (if so what should I say), or should I just keep the money to one side and wait for them to contact me?


Answer:

I would suggest you do try to track down who owns your debt now and see if they will offer to let you get rid of it at a lower rate. They will eventually find you anyways and if you want to clear your name and your debt, it will be better to do it faster and get it off your mind.