Cash Supply Help

I need some help dealing with these people. Goudah was helping. They refuse to come down off the $904.00 they say I owe in a $500.00 loan. This is the email they sent me:

"Here is your breakdown the original amt of the loan is$500.
your first origional finance charge was $75 owed. your loan then renew due to non-payment finance charge is $150.Loan renewed again due to non-paymt 2 weeks later so you have 2 charges of $150 finance charges ($300+$75+$500+$30) the $30 is NSF fee totaling $905 i need 3 payment of $301.66 starting on the 30th of this month being that you get paid semi monthly i need you Credit Card info so you can make theses payments and be done with this loan.I need a call from you in reageds to this acct i have done everythting you asked now its time for you to pay this loan off ( I WILL NOT SENT ANOTHER E-MAIL) I will pursue with further action if paymt is not made ASAP!!!!!

Alan Henderson
Cash Supply Recovery[/right]
This is an attempt to collect a debt; any information obtained will be used for that purpose."

With Goudah's help, I countered with:

"Per New Jersey Law, any interest rate over 30% is CRIMINAL. I have spoken with both the New Jersey Dept of Financial Inst. and The New Jersey Attorney General's office, and they both have advised me that this loan is illegal. Regardless of where you are physically located, and regardless of what the contract may state, the laws of New Jersey govern this transaction. A recent court case supports this, Quik Payday vs Kansas Banking Commisioner. The Kansas banking commissioner’s office persuaded a federal judge that state regulators should have authority to impose consumer protection laws on Internet payday lenders, even when they do not have a physical presence in the state. So a federal judge has already ruled that state's do have jurisdiction over these transactions. I have everything on my side, you have nothing but a signed contract that has several illegal provisions in it, and would be thrown out of court by any judge.

Again, I will not call you. All communication must be in writing, as I want everything documented in case things ever go to court. I'm copying the Attorney General's office and the BBB with all communication. Complaints have been filed at both places.

Again, I request that you comply with the laws of New Jersey immediatly. You must apply for a license to lend legally. You must follow the interest rate cap. Remember, anything above 30% is considered criminal loan sharking.

**I borrowed $500, and I have made no payments as of yet. I will pay that $500 back, but on my terms. I can pay $50 a month, for 10 months.



CC Anne Milgram, Attorney General, New Jersey
BBB
******************************************************

Now there reply:


It is apparent that you have chosen to ignore all our efforts to contact you to resolve your delinquent account with CashSupply. At this point you have made your intentions very clear and leave us no choice but to protect our interest in this matter.

This is your final opportunity to resolve this matter with us voluntarily as you are currently at risk of being forwarded to an outside collection agency who will report your default status to all major credit bureaus and demand balance in full be paid immediately in order to avoid litigation.

We may be able to accept a settlement that is less than the balance you currently owe. You will need to contact us within the next 48 hours if you wish to be considered for this offer. You can call us at 800-416-8907 or e-mail us at recoveries(at)CashSupply.com.

It is in your best interest to contact us immediately regarding this matter as doing nothing will not solve this problem.

Recoveries Department
CashSupply"


Any suggestions?