It might have been the most expensive failed New Year's resolution of all time.

A Toronto man says he has been making monthly payments to a fitness club he joined for three months -- nearly two decades ago.

Peter Bissoondath joined a club called World Gym in 1992 but quit after three months, thinking his obligation was done.

Admitting he doesn't check bank statements closely, Bissoondath said he just recently realized that a monthly charge of $35 was linked to his brief time at the gym.

"I couldn't believe that. I had no reason to know," Bissoondath told CTV Toronto.

After he quit World Gym, the club was acquired by Premier Fitness. His membership was transferred to Premier Fitness, and payments continued to come out.

Bissoondath's bank only had files dating back 10 years, but he approached Premier Fitness and asked for help. He said he knew it was his fault, but was hoping they would refund half of his money.

Premier Fitness spokesman Al Guarino said the club could do better than that for Bissoondath. After checking their books, Premier Fitness refunded the entire $7,897 he had paid to the club over the years.

"He understands this is a World Gym issue dating back to 1992, he agrees Premier Fitness was not at fault in this matter. We are giving him a refund and I think he is walking away very happy," Guarino told CTV Toronto.

Bissoondath says he is very grateful, adding that he'll be more careful with the money in the future.

"Believe it or not that is money I did not have and I'm not going to waste it. I'm going to put it in an RRSP," he said.

With a report from CTV Toronto's Pat Foran