Please Help with DCS said I need $3,000 in 2 days!!

Keep in mind, any asset that has her name on it is fair game, so if there are joint accounts/assets, those items are subject to claim.

I just spoke with DCS Inc. Collection Agency for Citibank, today about my so called default student loan account balance of $1,500. I was told I needed to pay either 50%-$750 or 33%-$425 within 2 days. If I had that kind of money hanging around the house I would have pay my most important bills first. DCS Inc, never gave me the option to come up with money at all. I tried to explain what I can afford per month but was told that wouldn't be exceptable. I was threaten too that my loan was headed to the courts for further collection. I just read my rights as a consumer and I will definitely follow-up with my lawyer about this collection agency DCS Inc. I don't fell anyone at DCS Inc, has any sympathy or compassion to help those of us in need.

Guest....is this is for a private citibank loan or a federal loan?

If it is in fact a private loan, DCS is simply following the prom note that you signed, agreeing to pay your balance in full on demand. Technically they do not have to give you any opportunity to make payments. Plus private loans do follow up with law suits on a regular basis.

Even with a federally insured loan, you made an agreement to pay your loan in full on demand upon default. The biggest difference however between private loans and federal loans is that federal loan wont take you to court...they can garnish your wages without a court order. So wasting money on an attorney is kind of a waste of time and money....better pay it directly on your student loan.

i cosigned on my daughters student loan for 2000. she was out of work thought it was part of a hardship and ignored the harassing phone calls. long story short theyare suing hern and said it is now 18,000. I was had a bankruptcy and thought it was included. i recieved nothing by mail. Can they take my income tax return? before going to court?

If you cosigned it would be a private loan. Most private lenders do not offer much if any of a hardship...they are not obligated to.
You are aware that as the cosignor they will sue you too? Do they have your correct address and phone number?

Student loans havent been dischargeable in BK since 1989.

And no...they cannot take your tax return.

How can DSC consolidation students loan with you paying $55.00 before receiving application and $50.00 a month for 90 days? That is suppose to clear up your debt.

Guest ...is that a question??

Please be care-ful in regards to DCS. A-lot of the letters are scams.

I have defaulted loans and I was contacted by a DCS consolidation lady that said that if I paid $50.00 and signed a bunch of forms, that I'm staring at right now, that my credit would be in good standing again after a few months. This would put my loans in deferment for a few years until I am ready to make payments again.

I only came online to find the DCS number, and I found this thread, and not much information on DCS.

Is this a scam? I have read all the forms, but seriously, legal stuff just gives me a headache and I don't really understand it all.

Please help. Thanks.

Nope...not a scam. It is called rehab. 9 payments of $50 (if that is what you agreed to) and then your loan is purchased by a new lender. It will NOT automatically put your loan into deferment for a few years....you must apply and qualify for deferments and generally they are only done for 6-12 months at a time. Do a search on rehabiliation.

Thanks.

She didn't say that I had to make 9 payments of it. She said that I just have to make any payment, just to show them that I am trying to make payments. And that if I call a certain number, it will list the loans that I have to pay back, and I can put them all together and start paying them back all together.

Did she mention consolidation??

Maybe you should call them back for clarification.

I beg to differ! My student loan is in default and dcs has put my defaulted loan on a payment plan. The reason why you have to pay that much up front is bc you have to pay by direct debt or credit monthly. I will be starting school in the fall bc I have made 6 consecutive payments on time. I thought they were very helpful )

Concerned.....there is absolutely NO requirement to make any payment upfront to do a rehab or to qualify for financial aid. I just hope you understand that you cannot stop paying once you go back to school or until your loan is paid in full or rehabbed.

I use to work for dcs this company treat employees like crap they are so demeaning to the emploees its sad but i saw this if you do not collect you fired.. the employees have to stick to the script they are like puppets some oner should ho undercover and see how degrading the employees are treated and how the employees treat the public and the bounus scale in which the employees must reach or they are fired]

Has anyone had any success with DCS in negotiating acceptance of the original loan amount on a defaulted loan? I am prepared to pay the loan in full, but I'll be hogtied if I'm paying any interest or penalties. They can take the in full payment of the original balance, or they can call me back when they've had time to think it over.