Skip to main content
Accessibility Resource Center Skip to main content
Have a phone you love? Get up to $500 when you bring your phone.
cancel
Showing results for 
Search instead for 
Did you mean: 
Termination Fee
taltman0880
Member

My contract ends 3/26/13  what would my termination fee be?

0 Likes
1 Solution

Correct Answers
Re: Termination Fee
tikibar1
Sr. Leader
Sr. Leader

if a smartphone, $350 minus $10 for each full month of your contract term that you complete

if a basic phone, $175 minus $5 for each full month of your contract term that you complete

View solution in original post

0 Likes
Re: Termination Fee
tikibar1
Sr. Leader
Sr. Leader

if a smartphone, $350 minus $10 for each full month of your contract term that you complete

if a basic phone, $175 minus $5 for each full month of your contract term that you complete

View solution in original post

0 Likes
Re: Termination Fee
taltman0880
Member

Okay I have a smartphone but I want to trasnfer to someone elses plan is there anyway I could do that before my contract runs out. I am eligable for an upgrade.

0 Likes
Re: Termination Fee
tikibar1
Sr. Leader
Sr. Leader

You're wanting to be part of someone else's plan?  If so, you'd need to do an Assumption of Liability:

Billing FAQs | Verizon Wireless

0 Likes
Re: Termination Fee
taltman0880
Member

Yah I wanna transfer to my boyfriends plan. What exactly is an Assumption of Liability

0 Likes
Re: Termination Fee
jan4jc164
Member

I know about this as I had to do it myself.  Because I am not creditworthy on my own (If your credit score is low and you want your own plan, you have to pay them an extreme amount as security that they hold in escrow in the event that you default on your payments. They hold in indefinitely.)

My sister put me on her plan and when I got married I wanted to switch to my husband's plan.

Basically, he has to say "yes I agree to assume full responsibility and also full liability for the debt (you accrue)".  When he authorizes this, basically he is then responsible for your bill and agrees to pay it, whether you do or not. BEWARE, This got messed up with me. 

If you wish to also be able to view the account on-line or make any calls about problems, he also has to authorize you as a user on the account, because it is now HIS account.

0 Likes
Re: Termination Fee
Not applicable

jan4jc164 wrote:

I know about this as I had to do it myself.  Because I am not creditworthy on my own (If your credit score is low and you want your own plan, you have to pay them an extreme amount as security that they hold in escrow in the event that you default on your payments. They hold in indefinitely.)

Actually they hold it for a year. After a year you get it back as long as you have made your payments in full and on time. If not then you have to wait another 3 months.

0 Likes
Re: Termination Fee
budone
Sr. Leader
Sr. Leader

In addition, an AOL MAY add up to 12 months to your contract.

From VZW Website:

If you agree to the Customer Agreement Terms and Conditions and up to a one-year contract term, you must contact the Assumption of Liability Department at (888) 832-4540. A representative will assist you with completing the AOL request.

0 Likes