Can a car rental company have you arrested for an unpaid balance?

I RENTED A CAR FROM AVIS CAR RENTAL AND RETURND THE CAR LATE STILL WITH THE ANTICIPATION ON PAYING FOR THE BILL. WELL AFTER THIS I RAN INTO A BAD FINANCIAL SITUATION AND MY ACCOUNT MY CLOSED OUT AT THE BANK. NO MORE MONEY COULD BE DRAFTED FROM ACCOUNT AND BECAUSE I DIDN'T MAKE A PAYMENT ARRANGEMENT ON THEIR TERMS AT THE TIME THEY WANTED ME TO PAY, NOW THEY ARE CALLING THREATING ME TO BE ARRESTED. IS THAT POSSIBLE.