mypaydayloan-Internal Laws??

I did a pdl with mypayday loan- what does Internal Law mean?? Can anyone give me some insight on this email I got from them..
I feel I do not owe them anything the loan was for 300.00 and I have paid 525.00 on it.


ZARVAD III Ltda. DBA MyPaydayLoan.com

Centro Colon, 8 avo piso, Oficina 8-4

San Jose, Costa Rica

Phone: 888-269-2303



July 28, 2008



Dear ,



We would like to clarify the issue pertaining to the transaction you originated with our organization. We would like to point out we are incorporated in, and operate over the Internet, with our offices based out of San Jose, Costa Rica. By engaging in a transaction with us, you have availed yourself to be subject to the internal laws of Costa Rica for this particular check advance agreement. Specifically your contract states under the Governing Law section "Both this agreement and the application is considered to be executed at our offices in San Jose, Costa Rica, and this agreement with us shall be governed by, construed, and enforced solely in accordance with the internal laws of Costa Rica." If you would not have agreed to avail yourself to this jurisdiction as the sole contract venue (which was your prerogative), you would have not been provided with the advance from our company. There is no conflict with federal regulations, and although certain states may have more restrictive regulations, when dealing with international law pertaining to contract venue, federal regulation supersedes state regulation, and this particular transaction is governed by Costa Rican law, not Oregon law, regardless of where you reside. You have sent us a cease communications letter pursuant to the fdcpa, which does not pertain to us. Excerpt from (FDCPA), 15 U.S.C. §§ 1692 a



(6) The term “debt collector” means any person who uses

any instrumentality of interstate commerce or the mails

in any business the principal purpose of which is the

collection of any debts, or who regularly collects or

attempts to collect, directly or indirectly, debts owed

or due or asserted to be owed or due another. Notwithstanding

the exclusion provided by clause (F) of

the last sentence of this paragraph, the term includes

any creditor who, in the process of collecting his own

debts, uses any name other than his own which would

indicate that a third person is collecting or attempting

to collect such debts. For the purpose of section

808(6), such term also includes any person who uses

any instrumentality of interstate commerce or the mails

in any business the principal purpose of which is the

enforcement of security interests. The term does not

include—

(A) any officer or employee of a creditor while, in

the name of the creditor, collecting debts for such creditor.



We are not debt collectors, we are employees of the original creditor, Mypaydayloan. We have every right to contact you at any number you have provided. We also have every right to deduct full payment of the loan plus any fees that may have incurred per your contract. I have included an excerpt from the contract you signed:



CONSEQUENCES OF DEFAULT: Should you stop payment on the check or otherwise be in default under this agreement, we may at our option exercise any one or more of the following remedies: (a) we may charge an up to $25.00 return check fee, and up to a $75.00 late fee. In addition, we reserve the right to charge any collection fees associated with recovering any unpaid obligations to us; (b) if payment is not made after written demand, we may go to court and get a judgment against you for the then unpaid amount of your obligations to us. In the event judgment is entered in our favor, we may seek to collect this judgment through all judicial means necessary, including attaching your nonexempt property; (c) if we have to hire an attorney to help us collect the amount you owe us, your signature on this agreement constitutes your agreement to pay all of our reasonable attorney's fees, court costs, and other expenses, including the costs of foreclosure and legal remedies that we incur in collecting; (d) if we are advised by your bank or other financial institution that the check has been altered, forged, stolen, obtained through fraudulent or illegal means, negotiated without proper legal authority, or represents the proceeds of illegal activity, we may be required to notify the state's attorney's office for potential prosecution. CUSTOMER'S BANK CHARGES: You will not hold lender or our agents responsible for depositing any check(s) or for any fees you must pay as a result of any check(s) being deposited at your bank.



In addition, we do not work with debt consolidation companies to settle debt. Please let me know how you intend on paying this loan off. Thank you again your cooperation.



Sincerely,

Livia
Collections for Mypaydayloan.com
1-888-269-2303 ext 61