Deferred probation will definitely be an option. You may also qualify for a pretrial diversion program, which results in an outright dismissal. I think there is a good chance given the facts and your lack of a criminal history that an attorney may be able to get it dismissed completely. Best of luck.
Macy Jaggers's answer to a legal question on Avvo does not establish an attorney-client relationship. Ms. Jaggers offers everyone a free consultation to discuss their case. Feel free to call her office at 214-365-9800 to make an appointment (phones are answered 24 hours) or visit her website at www.macyjaggers.com for more information about her services and recent victories.
You really should seek out the assistance of a criminal defense lawyer ASAP. That attorney can guide you and advise you about the programs that may be available to avoid a conviction.
Most criminal defense lawyers do not charge for the first consultation.
Answers on Avvo are for general information purposes only and should not be relied upon as legal advice. No attorney / client relationship is created by providing this answer. For specific advice about your situation, you should consult a competent attorney of your choosing.
If you don't have a prior history, I think your chances are good, and as long as you are actually talking about a theft of under $50 (I think that's what you mean, not $150), you'll be eligible to have your records expunged in two years as long as you're successful with the deferred disposition requirements. Your chances of getting there are going to be better with an attorney, and representation shouldn't be that expensive for a Class C case like this. I know the whole thing seems like an enormous disaster right now, but as long as it gets handled correctly, it really doesn't have to be the end of the world for you. Good luck.