private loan default

[cdbosu]

I recently made a mistake with AES. I have two loans out with them and had been making payments on the one. I assumed (which was dumb of me) that since I had two loans through them that I was paying on both since I was only receiving one statement. Eventually I received a letter saying I defaulted on the one. At the same time Conserve began calling me. They are a collection agency wanting payment in the full amount of a lessor amount of 4,000 if I do so immediately.

 

Is there a way I can resolve this by making monthly payments? They say no. What is my best solution in getting out of this mess? I simply can not afford to pay 20,000 upfront to get out.