"Final Notice" from MyCashNow.com

Okay, I closed my account and sent the letter to MyCashNow last week saying for them not to contact me by phone and not to attempt debiting my account. Also pointed out that they are in violation of Texas law and that I have overpaid them. Today I get the following email. My question is this - Do they really contact the credit bureaus or is this a bluff?

YOUR LOAN WITH MyCashNow IS SERIOUSLY DELINQUENT. IF YOU CONTINUE TO IGNORE THIS DEBT, WE WILL HAVE NO CHOICE BUT TO REFER THIS ACCOUNT OVER FOR FURTHER COLLECTIONS. This letter serves as notice that this is a payday loan, and service charges are accrued each day, until the account is paid in full.

You have been given ample opportunity to pay this loan. In an effort to maintain our commitment to assisting those in immediate financial need, MyCashNow extends this ONE-TIME opportunity to resolve your $ 1344.45 debt with our company by paying a settlement amount of $ 1344.45. Any money received less than the settlement amount in full within 10 days or calling this office with acceptable payment arrangements will not hold your account in our office. Failure to pay this settlement amount will result in your debt being reported to the Credit Bureau, which will show for a minmum of 7 years, and Teletrack Systems. If you have paid your account in full, please disregard this notice.

Please call our toll free number, 866-645-1661, if you have any questions concerning this notice. Office hours are from 9am to 6pm Eastern Standard Time. Your failure to respond to this final notice will result in the account being turned over to another source for additional collection efforts in order to protect our interest in this matter. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.