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FNB Statement/account from 21 years ago back to haunt us! (Accountant needed)

Yi Lon Ma

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Hey guys,

My folks have been banking with FNB for a while and recently got invited to RMB. Everything was great and the upgrade went smoothly especially because the FNB app is the same as the RMB app. My Dad has always been in good standing with WesBank with 2 paid up vehicles in the last 2 decades, and was recently approved for a vehicle with a minor hiccup which has latter caused a bigger issue... The vehicle finance process came to a hault and someone from RMB called to say that they've found an account from 21 - 25 years ago which is outstanding and they'd need proof that it was paid up, they further sent a statement which my Dad was in shock because he didn't even remember this. He later put together some pieces and recalled some details. From my understanding it looks as if they actually owe my Dad money as this loan/borrowed money was taken against a share but it's a very small amount and calling collections is pointless because they don't even know what we're talking about and they think we're crazy.

I really need an accountant to make sense of this statement (we can even pay if need be)

tl;dr - My folks were invited to RMB and upon switch, RMB found an old account from 21 years ago which stopped a vehicle finance application with WesBank. We need an accountant to read the statement.

Please PM me if you can help
 
@BeanBud - drop me a PM so I can get the context. Very simplistically though debt normally prescribes after three years so if they have made no attempt to contact your folks in this period and/or have no proof of them acknowledging this debt you can tell them where to go. There are specific exceptions in the prescription act where 3 years wouldn't apply but you can fill me in on the details via a PM and I'll see if I can advise from there.
 
@BeanBud - drop me a PM so I can get the context. Very simplistically though debt normally prescribes after three years so if they have made no attempt to contact your folks in this period and/or have no proof of them acknowledging this debt you can tell them where to go. There are specific exceptions in the prescription act where 3 years wouldn't apply but you can fill me in on the details via a PM and I'll see if I can advise from there.
I thought so too, but the national credit act only came in during 2005 I'll drop you a PM ASAP thanks (No summons was issued)
 

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