I was a Verizon wireless customer for many years. I made a decision to move to a different company because they were offering a good deal including willing to pay of the balance of our phones which was 700 or so dollars.
I had all our numbers ported over and began service with my new service provider. While I was waiting on the funds from new provider to pay off the balance from Verizon I received notices to pay. One day received a call from a Verizon department that was looking for the outstanding balance, it was in total about 1,000. I discussed with the representative that I was waiting on the funds and at that time the rep said they were the collection department but still part of version and they want payment immediately. I explained that I had 794 at the moment and rep said they would be willing to settle my entire account for this amount. At this point i am thinking this must be a collections agency because they are willing to take less then the total amount due. I confers with the rep that my account with Verizon would be considered settled in full and the rep responded yes.
what happened next was shocking. My credit score has always been over 700, suddenly two credit cards immediately closed I called them to find out why and they told me I was outside their comfort zone due to my credit score. Over $260 which I was told was settled, Verizon reported me as in collection to all three of the credit bureaus. My credit score dropped by over 120 to 589. I have had very good credit up to this point, I have never missed a single payment and something this small caused so much damage. This is an unacceptable outcome to me. Once I found out what event actually caused the issue I paid the remaining balance to Verizon again this $260. The outstanding amounts now show zero on my credit report but the damage is done. Creditors wield too much power in the regard and should not be able to financially impact an individuals livelihood this gravely especially over such a small amount.
Typically the funds from the new provider come in the form of a gift card after the fact. You are still responsible to pay off the last bill of the old provider.
Also this forum is for Verizon landline services. You should post your comment at https://community.verizonwireless.com/.
As Edg1 said, these forums are dedicated to Residential products and services offered by Verizon.
For help with Verizon Wireless issues, please post your topic on the Verizon Wireless community.