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Question about termination/ (ETF)

So I started my Verizon contract September 29th 2008. Well, in May of last year (2010), I was eligible for my New Every Two, so I went to Best Buy and got the Droid Eris (piece of crapppppp) for $30 after signing another 2 year contract (figured "Hey, I like Verizon..i'll stay on")

Well now, the next time I'm eligible for New Every Two is 1/30/2012

But...I want to terminate my service and go on AT&T. Mainly because their overall monthly bill will be cheaper on me, with the same features, not to mention an iPhone 4 for only $199.99...not the $599.99 I'd have to pay to Verizon since I can't upgrade yet, and since apparently Verizon is sold out of them...pfft.

My questions are:

How much of a termination fee will I have to pay to end it?

and..

Whenever I do end it...say the 6th of this month (my billing cycle ends TODAY actually), will Verizon send me that last bill with the ETF and 2 days billing credit, or the ETF amount and a full month's bill (which would be like $96 )

Thanks!

Comments

lewisr13

I believe you would have to pay the full month on a cancellation. The ETF is $350, but It's prorated depending on the length of contract. Just be aware that you will be eligible for an annual upgrade in May, and the iPhone 4 may be cheaper then as well.

unknown

jcp42877 wrote:
So I started my Verizon contract September 29th 2008. Well, in May of last year (2010), I was eligible for my New Every Two, so I went to Best Buy and got the Droid Eris (piece of crapppppp) for $30 after signing another 2 year contract (figured "Hey, I like Verizon..i'll stay on")

Well now, the next time I'm eligible for New Every Two is 1/30/2012

But...I want to terminate my service and go on AT&T. Mainly because their overall monthly bill will be cheaper on me, with the same features, not to mention an iPhone 4 for only $199.99...not the $599.99 I'd have to pay to Verizon since I can't upgrade yet, and since apparently Verizon is sold out of them...pfft. They aren't "sold out," the quantity set aside for pre-orders have all been reserved. I'd say most people have a good chance of getting it on the 10th if they want it.

My questions are:

How much of a termination fee will I have to pay to end it? Since you have an advanced device, it will be $350 less $10 for each month of your contract that you complete.

and..

Whenever I do end it...say the 6th of this month (my billing cycle ends TODAY actually), will Verizon send me that last bill with the ETF and 2 days billing credit, or the ETF amount and a full month's bill (which would be like $96 ) Verizon will send you a bill for the ETF and the any overages from your last month of service. Since you pay a month in advance, that payment will cover your last month, but none of it will be refunded if you cancel before the end of the month. Verizon's policy (outlined in your contract) is to bill for the complete final month of service.

Thanks!

Just a note, to be eligible for the "Annual Upgrade" that lewisr mentioned, you will need to be either the primary line on a Family Share plan, or on an Individual calling plan valued at $49.99/month or higher. Also, the annual upgrade program has been discontinued, so this will be the last annual upgrade you can use.

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