Credit Card Cleared by Lender

scunner

Hi. The balance on an old credit card which I havn't used for years has suddenly been cleared by the lender. I stopped making full repayments to the account and incurred a default just as I did with several other credit card accounts and have been making reduced repayments in accordance with the agreement I had with the lender.

However, they've suddenly written to me saying... "your account has not been used for a long time and an outstanding balance has accrued. We are therefore writing to give you 60 days notice of closure of your account in accordance with the credit card terms and conditions. As during this period of inactivity we have not been sending you notices or reminders of the outstanding balance, we are waiving payment of this and you have nothing more to pay".

Could anyone offer some guidance on this please? Is it simply a case of what the lender is saying? That, purely because they have not sent me regular notices of the outstanding balance they're legally obliged to write-off the outstanding amount?

Thanks.