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what should I expect at mediation?

I am being summoned to show up in court for a personal loan that I haven't been able to pay...heck, I haven't been able to pay any of my credit cards
I have mediation tomorrow morning...and I'm at a loss of what to expect.
I own a house...but I'm head of household, and it is my homestead. I live in FL and have two dependents...yes, their father lives with us, but we are not married, the loan was made just for me, my SO is not on the contract.
I own one car, and it is paid for...blue book cannot give me a price of what it's worth because it has two dents in the back...(basically it is worthless)
I am behind in all of my bills....
I was thinking of going in there and going into detail about how I can barely afford to put food on the table and prove it. or just shut my mouth. In some cases, more information that you give them can hurt you. Should I just answer what they ask?

Answer Question
 
purestambition

Asked by purestambition at 4:39 PM on Sep. 23, 2010 in Money & Work

Level 4 (30 Credits)
Answers (7)
  • You should have talked to a lawyer.. Its kind of late now to figure it out. Try calling some laywers and hope they are still in the office.

    Good Luck!
    tiger_tatted1

    Answer by tiger_tatted1 at 4:41 PM on Sep. 23, 2010

  • I did talk to a lawyer, he told me to file for Ch 7. Unfortunately, I don't have 2 grand to file for Ch 7 right now.
    purestambition

    Comment by purestambition (original poster) at 4:42 PM on Sep. 23, 2010

  • Mediation or arbitration for a specific loan/debt?
    pixie_trix

    Answer by pixie_trix at 4:47 PM on Sep. 23, 2010

  • Mediation.
    purestambition

    Comment by purestambition (original poster) at 4:48 PM on Sep. 23, 2010

  • Mediation.. That I really do not know that much about.. Arbitration on the otherhand, I just helped a close friend with that one. So it I do have some info on.

    Sorry I can be of no real help.

    I wish you luck and all the best in dealing with this!!! :-)
    pixie_trix

    Answer by pixie_trix at 4:53 PM on Sep. 23, 2010

  • Thank you!
    purestambition

    Comment by purestambition (original poster) at 4:56 PM on Sep. 23, 2010

  • Expect that you will have to pay something and if you're lucky they will probably settle for a lower price than you owe now or they might be willing to put a payment plan on the table. That is usually what mediation is for.
    usbornebooksdh

    Answer by usbornebooksdh at 4:59 PM on Sep. 23, 2010

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