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    StressedOu7's Avatar
    StressedOu7 Posts: 1, Reputation: 1
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    #1

    Feb 21, 2010, 02:44 PM
    What to do in a mediation for credit card debt
    I was served with a lawsuit by one of the big banks out there for a credit card debt. Now, I'm a year and two months into a debt settlement program with a company, and they have tried to negotiate with the lawyers for the bank with no luck. I was told they want to settle at $700/month and want the full $17K, which includes interest. I can't afford $700/month for just one creditor. My mediation is scheduled for mid-March. At this point, I feel like it will be an easy win for the lawyers representing the bank. My debt settlement company can't do anything. I feel like I want to file for bankruptcy. I don't own a home or a car. All in all, I'm about $32K in debt from credit cards. I have been so stressed out, I haven't really been able to sleep or eat. Does anyone have any advice when going into a mediation for credit card debt? I've never been to court for anything.
    DownUnder's Avatar
    DownUnder Posts: 492, Reputation: 24
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    #2

    Feb 21, 2010, 05:57 PM

    I believe everyone should pay their debts but if you are 32K in debt from credit cards then maybe you should file bk and NEVER USE A CREDIT CARD AGAIN maybe some one else can advise you on going to mediation
    baographics_32's Avatar
    baographics_32 Posts: 1, Reputation: 1
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    #3

    Jul 27, 2010, 10:03 PM
    Don't give in to the Credit card debt. If you don't have a car or house, don't worry. The only thing they can do is garnish or freeze your bank account if they can find your job or bank.
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