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Student Loan Consolidation - consecutive monthly payments

Submitted by on Fri, 06/13/2008 - 13:27
Posts: 202330
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I an planning on going back to school but I am in default on a previous student loan in the amount of $4,259.77. DCS has my loan and I called them about getting out of default so I can go back to school. They offered me a consolidation plan saying if I make 3 consecutive monthly payments Of $50.00 I will be out of default and will be able to receive student aid again. Will consolidation get me out of default and will it only take me 3 months and not 6 or so like I have heard of before? Or are they just feeding me a line of BS just to get my money? I have never dealt with credit collectors before but I know that they are not the most honest companies out there and I am uneasy about trusting them.