I have gone through same situation. Becoz of the mistake of DSO of my previous University,I had to file for reinstatement.I filed for I-539,Its being  more than 3 months and its on the process.Hope to get approved soon.I am keeping my finger crossed to get it soon.

Anyone in this situation.Lets share here.

In my case,my current univeristy helped in it.

Talk 2 ur Intl Advisor, and fill the form along with one letter of request with genuine reason. I did the same like 2 yrs b'fore and even couldn't file my H1B.

 DO ASAP cost u $ 200.00 (Not sure now). But that time there wasn't such B/Bal.

 

 

U don't need to worry abt the job or whatever. See the main thing is ur Intl advisor, if he/she cope nicely, and submit u with required docs. Uain't need 2 worry. Mine was the mistake from the administration, not my side. So they dedicated, and probably took like 31/2 months, but u have to go to school. But coz of that four months, i missed my H1B. So go ahead and do it now.....fren

 Later u'll get ur I-94, and ur I-20 stamped, written granted D/S, and Reinstated respectively.   

My pleasure. Good Luck     

If you have pretty good gpa, then you don't have to worry. GO to the international office and tell them that you want to apply for reinstatement. You have to do some paperwork, fill up some forms and write a letter explaining why you were out of status. I was out of status for studying without I-20. It usually happens when you are transferring to different institution.