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BARSKY48
Newbie

My contract doesn’t expire until June 2019. How much will it cost me to cancel?

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vzw_customer_support
Customer Service Rep

Hello, BARSKY48. We will need to access your account to give you an accurate answer to this question. Please send us a Private Message, so that we may assist you. You may also follow and DM us on Twitter, or Private Message us on Facebook. 

 

 

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BARSKY48
Newbie

How much would it cost to cancel my contract. My number is [removed]. Thank you.

Bobbi

[removed]

Personal information removed to comply with Verizon Wireless Terms of Service

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vzw_customer_support
Customer Service Rep

We would never want to lose you over a situation like this, BARSKY48. We value your loyalty, please meet us in a Private Message, so we can see what we can do for you.

CecileC_VZW

f my response answered your question please click the _Correct Answer_ button under my response. This ensures others can benefit from our conversation. Thanks in advance for your help with this!!

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boringusername
Master - Level 1

BARSKY48 wrote:

My contract doesn’t expire until June 2019. How much will it cost me to cancel?

That would have meant you got contract in Jun 2017 which is impossible as Verizon stopped 2 year contracts in Jan 2017 except for business accounts. Do you mean Device payment? If so then pay off the balance of the device payment,

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BARSKY48
Newbie

My account was activated 6/14/17 and it says my contract end date is 6/14/19. Account #0273344856-00001. It is not a business account. It is personal. What are my options?

Bobbi

[removed]

Personal information removed to comply with Verizon Wireless Terms of Service

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RepresentativePointOf

For security purposes I wouldn't advise putting your entire account number on here, unless you're privately messaging a Verizon rep. & if your device is on a contract and you decide to disconnect your line before the contract end date, there will be an Early Termination Fee you will have to pay for, in addition to your last bill. The ETF is determined by how long you have left on your contract, the closer you are to the contract end date, the less the ETF will be.

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BARSKY48
Newbie

This doesn’t resolve the issue. In the last email it was stated that Verizon stopped 2 year contracts in January 2017. Why do I have a 2 year contract?  I have been ripped of from the beginning. Bad contract and the worst service. Now what. You are going to ignore the length of the contract issue?

Bobbi

[removed]

Personal information removed to comply with Verizon Wireless Terms of Service

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vzw_customer_support
Customer Service Rep

Barsky48, we would never want to lose you as our customer and are here for you to help.  A private message has been sent so we can assist you further. 

SeanC_VZW

Follow us on TWITTER @VZWSupport

If my response answered your question please click the _Correct Answer_ button under my response. This ensures others can benefit from our conversation. Thanks in advance for your help with this!!

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rcschnoor
Legend

There are 2 types of contracts with Verizon, a service contract and a device payment contract.

If you are talking about a 2 yr service contract your customer agreement states the following:

"If you cancel a line of Service, or if we cancel it for good cause, during its contract term, you'll have to pay an early termination fee. If your contract term results from your purchase of an advanced device, your early termination fee will be $350, which will decline by $10 per month upon completion of months 7–17, $20 per month upon completion of months 18–22, $60 upon completion of month 23 and will be $0 upon completion of the contract term. For other contract terms entered into on or after November 14, 2014, your early termination fee will be $175, which will decline by $5 per month upon completion of months 7–17, $10 per month upon completion of months 18–22, $30 upon completion of month 23 and will be $0 upon completion of your contract term. If you cancel service, you may have to immediately pay off the remaining balance on any device agreement."

This would give you an ETF for EACH line on your account which was under contract. For contracts which would be completed in June of 2019, that would give you a current ETF of $310 for each line you cancel. That would work out to the ETF remaining at $350 thru December of 2018 and drop by $10/month for January, February, March & April.

If you simply have a device payment contract, all you would have to do is pay off the device(s) which still have a balance.

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BARSKY48
Newbie

So even though Verizon stopped doing 2 year contracts 6 months before I was pushed into a contract I am stuck with it?

Bobbi [removed]

Sent from my iPhone

Last name removed as required by Verizon Wireless Terms of Service

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boringusername
Master - Level 1

rcschnoor wrote:

There are 2 types of contracts with Verizon, a service contract and a device payment contract.

If you are talking about a 2 yr service contract your customer agreement states the following:

"If you cancel a line of Service, or if we cancel it for good cause, during its contract term, you'll have to pay an early termination fee. If your contract term results from your purchase of an advanced device, your early termination fee will be $350, which will decline by $10 per month upon completion of months 7–17, $20 per month upon completion of months 18–22, $60 upon completion of month 23 and will be $0 upon completion of the contract term. For other contract terms entered into on or after November 14, 2014, your early termination fee will be $175, which will decline by $5 per month upon completion of months 7–17, $10 per month upon completion of months 18–22, $30 upon completion of month 23 and will be $0 upon completion of your contract term. If you cancel service, you may have to immediately pay off the remaining balance on any device agreement."

This would give you an ETF for EACH line on your account which was under contract. For contracts which would be completed in June of 2019, that would give you a current ETF of $310 for each line you cancel. That would work out to the ETF remaining at $350 thru December of 2018 and drop by $10/month for January, February, March & April.

If you simply have a device payment contract, all you would have to do is pay off the device(s) which still have a balance.

hey could NOT have had a residential contract in June 2017. Verizon ended 2 year contract in early Jan 2017. So the latest a 2 year contract can end is Jan 2019.

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rcschnoor
Legend

boringusername wrote:

Verizon ended 2 year contract in early Jan 2017

The following is an example from January 24, 2017 AFTER this policy had already been instituted. The policy did not affect those on government/enterprise accounts, which included employees of those institutions with an active employee discount. That is how I was still eligible for a 2 yr contract AFTER this policy had already taken effect. Another factor was if you were still on an older plan as the option for a 2 yr contract had been removed from The Verizon Plan since its inception.

Re: What happened to upgrading device and getting a low-price with an extended contract agreement?

boringusername
Master - Level 1

rcschnoor wrote:

boringusername wrote:

Verizon ended 2 year contract in early Jan 2017

The following is an example from January 24, 2017 AFTER this policy had already been instituted. The policy did not affect those on government/enterprise accounts, which included employees of those institutions with an active employee discount. That is how I was still eligible for a 2 yr contract AFTER this policy had already taken effect. Another factor was if you were still on an older plan as the option for a 2 yr contract had been removed from The Verizon Plan since its inception.

Re: What happened to upgrading device and getting a low-price with an extended contract agreement?

Well it was still stupid to take the contract option regardless. if he had taken device payments he would be in this situation. It's not like 2 year contracts were cheaper

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rcschnoor
Legend

boringusername wrote:

Well it was still stupid to take the contract option regardless. if he had taken device payments he would be in this situation. It's not like 2 year contracts were cheaper

I've never said service contracts were better than device payments or paying full price up front, but simply saying that it was not possible to start a service contract in June of 2017 is not necessarily true.

AND your statement saying "It's not like 2 year contracts were cheaper" is not so clear cut, either. To enter into a 2 yr service contract, it is likely they were on the More Everything Plan. IF that is the case and they had less than a 6 GB data allowance, they would only be getting a $15/month discount by going with device payments, which works out to a TOTAL discount of $360 after all 24 payments. Compare that to the $450 discount they would have gotten on most higher end cellphones when signing a 2 yr service agreement and the 2 yr service contract WOULD have been the cheaper option.

IF they had a 6 GB or higher data allowance, the monthly discount for being on device payments would have been $25 which works out to a $600 discount after all 24 payments and going with device payments WOULD have been the cheaper option.

Looking at those 2 scenarios, for some it would be better to go with a 2 yr service contract and for others it would have been better to go with the 2 yr service contract.

Regardless, like most things, blanket statements do not fit EVERYONE'S circumstances. You must look at all variables before coming to a conclusion.Smiley Happy

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boringusername
Master - Level 1

No need to get defensive. Ok let's say for the vast majority of non-business customers( I did state business was an exception in my first post ) after January 2017 and certainly today it's no longer possible to get a 2 year contract

Also the majority of Verizon customers are on either The Verizon Plan, The New Verizon Plan, February Unlimited, Go Unlimited or Beyond Unlimited and many still on older plans are not on less than 6 GB ME plans. Anyway it's still cheaper for them to be on device payments

4 GB ME plan 2 lines, base iPhones with 2 year contract.

Data $60, line fees $80( $40X2 )X24=$3360 +. 2 iPhones $400( $200X 2 )=$3760

4 GB New Verizon Plan plus 2 base iPhones( $650 each )

Data $50, line fees $40( $20X2 )X24 months =$2160 + 2 iPhones $1300( 2 X $650 )= $3460

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rcschnoor
Legend

Unfortunately, you keep signing your name to the end of your posts which must be part of your signature on your iPhone. This is against the terms of service on the forum and your posts are removed until a moderator reviews them and deletes the offending content.

To answer your question about signing a contract 6 months after Verizon stopped offering them, I tried to reply to one of your previous posts before it was removed with the following:

Service contracts were still available at that time for government employees with their government discount activated OR for employees of enterprise customers(large companies such as IBM, Microsoft, Walmart, etc...) with their customer discount activated. This does not mean those customers had to sign a service contract, it was simply one of the available choices. Signing a service contract usually comes with a ~$400 discount on the price of a phone purchase which helps some people choose to go with a service contract as opposed to paying full price for a phone up front or on a payment plan. Of course, this is offset by the increased line access fee for the duration of the contract.

While device payment plans are not "service contracts", they are still contracts. To complete this type of contract, you simply have to pay off the balance of the device.

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glitchedpixel
Specialist - Level 1

You guys are making this way more convoluted than it has to be.

OP more than likely has a device payment which can be ended at any time if the device is paid in full via a buy-out (unless they fell for the shady "free tablet" gimmick from a sleezy store rep tied to a 2YR contact)

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