Legal Question in Credit and Debt Law in Texas

I recently had my line of credit mature on a Sunday the following Monday I sat down with my lender to discuss if the line would be renewed. At that time it was agreed that it would not. When asked how I was planning to pay off the balance, I stated by liquidating my inventory and receivables and that I would need a little time to do this (they were fully aware of the time it took to conduct a sales transaction in my business). The assumption being that we could continue conducting business as usual with the intent to pay off our obligation in full in a timely manner. Instead what my lender did was to freeze my acct within a few hours after meeting and withdraw all the money from our acct without telling us, this has caused a mess with checks bouncing everywhere as well as damaging our reputation and name within our industry. All of our calls and emails were ignored for a week while the bank continued to avoid us while destroying our good name. Next they sent out demand letters to all of my customers threatening them with the notion that they will pay twice if they do not send payments directly to this bank. This letter is written terribly with inaccurate information as well as proprietary information. It specifies no specific dates, amounts or invoice numbers. As it reads, one would preclude that from now until eternity all payments to our company would be sent to this institution even after the balance of our debt is paid in full. When I asked them how they plan on correcting this, they said �good question�. Not everyone is a deadbeat, we wanted to cooperate and this institution seemingly made it their mission to not want to cooperate and to purposely ruin my business, what recourse do I have?

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