Texas holds more of the Snap Finance settlement than any other state. The company’s lease-to-own customers in Texas hold 148,295 of the 303,223 accounts covered, and their balances to be canceled total $344,486,039. The signed agreement puts that above the $317,616,479 combined for the other 16 states.
Texas makes up about 49 percent of the accounts and 52 percent of the $662,102,518 in total forgiveness. The average Texas balance works out to roughly $2,323, against about $2,184 across the whole deal. Larger average balances are why the state’s dollar share runs ahead of its share of accounts.
The 17-state agreement, led by Iowa and Nebraska and announced October 21, covers Texans who signed a Snap lease from 2017 through 2022. The account must also have been in Snap’s hands in November 2025 and marked “charged off,” which means the company had written it off as unpaid.
For a Texan with an old Snap lease, the questions are short: when was the lease signed, was the balance written off, and did Snap still control the account in November 2025? A customer who answers yes to all three should see the balance canceled automatically, with no claim form to file.
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How Texas compares with the other 16 states
Florida is the next largest, with 62,753 accounts and $135,643,677. Texas has about 2.4 times as many accounts and about 2.5 times as many dollars. Georgia follows with 31,647 accounts and $65,097,488, and no other state tops 10,000 accounts.
The other 16 states together hold 154,928 accounts, which is only slightly more than Texas alone has. Higher average balances in Texas explain why its dollars beat the other 16 states combined. Oklahoma, the closest neighbor on the list, has 9,439 accounts worth $18,050,323, and Louisiana has 6,259 worth $13,249,796.
Texas did not lead or sit on the negotiating committee. Iowa’s release lists Iowa and Nebraska as the leaders, Florida, Idaho, Kansas, Kentucky and West Virginia on the negotiating committee, and Texas among 10 states that joined. The release carries no Texas-specific statement or instructions.
Keeping the goods and ending the payments
Nebraska’s attorney general says Snap will automatically cancel the lease payments owed by affected customers there, and that they “will be able to keep and own their merchandise without making any further payments.” That release describes the mechanism for Nebraska, and the Iowa release says the same for Iowa.
The agreement itself says Snap releases its ownership of the property to the covered customers. Texans on the list should therefore not owe anything further on those leases. The text does not say how customers will be notified, when collection calls end or how credit reports will change, and Snap has not published those steps.
The Ginsburg Law Group, which wrote an explainer on the deal, makes a point that matters for Texas given its size: an account Snap sold to a debt buyer before November 2025 may fall outside the cancellation. The firm advises asking any collector for proof of ownership and the amount before agreeing to pay.
The same explainer says a court summons should never be ignored, because deadlines to respond are short, and suggests contacting the state attorney general’s consumer protection office. Customers should also keep any payment demand received after October 21, since a demand on a covered balance would be a problem to document.
Texas also has the highest average balance of the 17 states. At roughly $2,323 per account, it sits above Florida’s $2,162, Georgia’s $2,057, Louisiana’s $2,117 and Oklahoma’s $1,912. Each average comes from dividing a state’s canceled total by its account count in the signed agreement.
Texas has 56,120 more accounts than the other 15 states outside Florida combined, which hold 92,175. Florida, the next largest, has 62,753 of its own, so the two biggest states together hold about 70 percent of all accounts.
What Snap has to change for Texas leases
The agreement also changes how Snap does business in Texas and the other states. Snap must stop advertising slogans such as “same as cash,” and it cannot call the lease a loan or claim that it improves a credit rating. Customers must be able to review the full lease and see the total cost before signing electronically.
If a leased item breaks or arrives late, Snap now owns the fix: repairs and replacements come with no fee, and payments are suspended for goods never delivered. Texas shoppers also cannot be told that nonpayment means seizure unless Snap already repossesses, and ending a lease must be made practical.
Snap has 180 days from the October 21 effective date, which lands around April 19, 2027, to put these changes in place. It must train merchants, keep the training records for at least four years and file annual compliance reports for three years. Texas and the other states will see those reports.
Texas customers should expect the changes to show up in new leases rather than in the canceled ones. The agreement requires merchant training, with training records kept for at least four years and merchant guidelines reviewed by Snap every year, so store staff who sign up Texas shoppers are covered too.
Is a Texas Snap balance still on the books?
A Texan can be told a lease is canceled and still get a collection letter, a credit-report entry or a court summons for the same balance. With 148,295 Texas accounts in the deal, mix-ups are likely, and the customer holding no dated record carries the burden of proof.
The Settlement & Refund Recovery System gives that customer a claim log and payment tracker, plus the four-date rule for reading a settlement notice. Its tracker is pre-filled with all 51 state unclaimed-property offices, so a canceled lease, a notice and any later refund sit in one place.
Log the Texas Snap notice and every payment demand in one tracker →
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This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
