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25 year old accident in nz

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Junior Member
we have lived at our address here in Tokoroa for 15 years and have good credit. we have a house loan 25000 and went to extend the loan by 7000 to pay our only other debt my wifes credit card.
The credit check came back and there was a 4500 debt at first I could not remember the debt , the only thing I can think of was a car accident that happened literally over 25 years ago. when I was young I was paying it weekly then times got tough and we agreed a payment of $5 per week I did this for about 5-10 years then something happened I dont know what and we lost touch I thought it was paid. now 25 years after the initial accident another claim for $4500 has been made its now been over 25 years since the accident is there a statute of limitations that can force baycorp to remove the claim or should I continue to pay . so fat I have not accepted any liability and I am awaiting the loan people for the new loan to contact tomorrow as they may still accept the loan. and I am awaiting baycorp to give more details just incase someone else used my name and this claim is fraud. please advise

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