If your workspace is deactivated due to an outstanding payment, you can reactivate it if you are the owner of the workspace. Upon logging in, a workspace owner who is part of a deactivated workspace will see an option to reactivate it. The workspace will be restored, and access will be granted to all members once the outstanding invoice is paid.
If you opt to create a new Team workspace, your deactivated workspace cannot be merged with this new Team workspace, which will begin as a blank slate.