A quick update on my situation...
After days of getting the run around with them on the phone, I finally went into a branch locally and was able to get the banker there to help me. After a few phone calls he was able to tell me that the compliance department shut down my accounts because of 2 things. One of them was that stupid missed auto pay which in and of itself wouldn't have been a problem seeing as the account was in excellent standing. The other thing was that I made a domestic wire earlier last month from chase into an account that I own at another bank.
Apparently for some reason, the combination of both events set off a "Red Flag" and they decided after review that I am a "Risk." I am not sure exactly how I am a risk, seeing as that my accounts were perfect, never missed payments, etc. and that the wire was going into another legitimate account at a legitimate bank that was owned by me. The banker asked me to provide proof of the details and transaction on that account which I did and which he sent to the compliance department but their answer came back as "at this time even after reviewing that we will not be re-opening the accounts."
Anyway, this is absolutely terrible. It is going to negatively impact my score tremendously. My question is where do I go from here. Since the damage is already done, what options do I have? For the balances that are currently unpaid, should I basically not pay them and let them go fly a kite or should I call them up to settle those balances? Is there any downside to me just not paying them? I'm basically fuming mad at them right now.
