Legal Question in Criminal Law in Texas

They can try. When dealing with a criminal offense like theft, the state would normally have to prove intent. For example, at the time of obtaining the loan, were you intending to defraud Ace or steal from them or intending to never pay back the loan? If not, you are likely just dealing with a civil issue of borrowing money and failing to have the funds to repay without any criminal intent.

So, they can try to press charges on you, if the District Attorney's office would accept charges, but it sounds like they would have a tough time proving criminal theft.