What is a corporate advance fee from mortgage company after

americantrainer · Joined: 07 Apr 2008 Posts: 1 1.31 Dollars($)

I recieved a call from citifinancial saying I owe $84 for a corporate advance fee that is delinquent. I have never heard of this. Niether has my bankruptcy attorney. I closed our chapter13 on January 25 2008. Any Ideas what this is ? They said they would send a letter of explaination. I asked them to fax me, they said they would for a $15 fee.

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.77 Dollars($)

Hello Roxanne,

Welcome to the forum.

I have not heard anything like corporate advance fee. You should better contact with the citifinancial and ask them why they have charged such a fee.

michelle · Posted: Wed Apr 09, 2008 8:42 am Post subject:

Welcome to the forum americantrainer,

A corporate advance fee is generally charged by the lender anytime there is any type of special repayment plan arranged with the borrower; ie, forebearance or it sounds like Bankruptcy in your case. The fee is charged by the lender to cover the extra processing it takes to apply the payments correctly to your account.

Please let me know if you have any additional questions.

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