New Post/Thread Notification: CreditWrench

Hello,

xlaxplayrr has just posted in the CreditWrench forum of CreditWrench under the title of DCS and Student Loans.

This thread is located at http://www.creditwrench.com/consumers/showthread.php?threadid=1031

Here is the message that has just been posted:
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DCS started contacting me regarding my student loan (balance = $25,000) in October.

I initially inquired about payment and was told, "Not everyone qualifies, let me check with management."

The agent's response was that I "qualified for a settlement" of $19,633 or three payment plans of

$12,698 down and monthly payments of $148
$8,380 and monthly payments of $197
$3,809 and monthly payments of $258

I just spoke with the same agent regarding a potential loan rehabilitation and he told me that the above payment plans represent a rehabilitation. In an earlier discussion I had made the mistake of hinting at my monthly income and asked if the payment plan was based on the number I gave him. I think I caught him a little bit later in the conversation when he said the payment plans would be the same offer if I had made $100 a month. No research I've done has indicated that loan rehabs require such a significant "good faith" down payment. In some cases, do they?

What should I do about them?

Thanks for your help from a first time poster.
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