Legal Question in Credit and Debt Law in Texas

judgment

i was one of 4 partners in a startup company in 2002. the partners borrowed money to finance. the amount was $125,000 from an individual through a middle man. the note stated we would pay that amount plus $40,000 by september 2002. i also put up $80,000 of my own. the money went to attorneys and banks for further financing. no financing occurred, we lost all the money & dissolved the company. in 2006 judgment was made against the middle man and us for the loan. i don't recall all the details, but the judgment was made in Georgia (where the individual lived). the middle man has filed bankruptcy and now it seems to defaulted to us. we are in Texas & just now received certified mail from a judgment agency with intent to collect $344,000 by notice of Levy and we have 30 days to pay. i never received any money from the company, indeed i lost all of mine. my question is what are my rights? the only money i have is in a 401k account, perhaps less than $20,000. the levy states i'm subject to bank accounts, real & personal property seizure. i wan to know what recourse i have & how can i protect what little i do have: my home, cars, etc.

thank you

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