Are you tired of being locked into a Verizon Wireless contract that’s no longer serving your needs? Do you feel like you’re stuck between a rock and a hard place, forced to choose between continuing to pay for a service you’re not satisfied with or facing steep early termination fees? You’re not alone. Many Verizon customers find themselves in this predicament, but the good news is that there are ways to get out of your contract without breaking the bank.
The Early Termination Fee: What You Need to Know
Before we dive into the ways to get out of your Verizon Wireless contract, it’s essential to understand the early termination fee (ETF). The ETF is a fee charged by Verizon when you cancel your service before the end of your contract. The fee is typically prorated, meaning it decreases as you get closer to the end of your contract. For example, if you have a 2-year contract and you cancel after 12 months, you’ll pay a smaller ETF than if you cancel after 6 months.
The ETF can be steep, with prices ranging from $350 to $700 or more, depending on the type of device you have and the type of plan you’re on. For most people, paying the ETF is not a viable option, which is why we’ll explore alternative methods to get out of your contract.
Understanding Your Contract
Before you start exploring ways to get out of your contract, it’s crucial to understand the terms of your agreement. Take a close look at your contract and identify the following:
- The length of your contract
- The early termination fee
- Any promotional offers or discounts that may affect the ETF
- The type of plan you’re on (e.g., individual, family, or business)
- The type of device you have (e.g., smartphone, tablet, or smartwatch)
Having a clear understanding of your contract will help you navigate the process of getting out of it.
Ways to Get Out of Your Verizon Wireless Contract
Now that you understand your contract, let’s explore the ways to get out of it without paying the ETF.
1. Sell or Trade-in Your Device
If you have a relatively new device or one that’s still in good condition, you can sell it or trade it in to offset the ETF. For example, if you have an iPhone 13 and you’re 12 months into your 2-year contract, you can sell your device for around $500. This can significantly reduce the ETF, making it more manageable.
| Device | Average Resale Value |
|---|---|
| $500 | |
| Galaxy S21 | $400 |
| Pixel 4 | $300 |
2. Find Someone to Take Over Your Contract
Another option is to find someone to take over your contract. This can be a friend, family member, or even a stranger. You can advertise on social media or use online marketplaces like Craigslist or Facebook Marketplace to find someone interested in taking over your contract.
Make sure to vet the person thoroughly and ensure they’re willing to take over the contract and pay the remaining balance. You’ll need to work with Verizon to transfer the contract, and they may require some documentation from both parties.
3. Upgrade or Change Your Plan
If you’re not satisfied with your current plan, you can try upgrading or changing it to one that better suits your needs. This might not get you out of your contract entirely, but it can give you more flexibility and potentially lower your monthly bill.
Verizon often offers promotional rates or discounts for new customers, so it’s worth exploring these options. You can also consider switching to a prepaid plan or a lower-cost carrier.
4. Military Deployment or Relocation
If you’re an active-duty military personnel or a government employee being deployed or relocated, you may be eligible to cancel your contract without paying the ETF. Verizon offers a military cancellation policy that allows you to terminate your contract without penalty.
You’ll need to provide documentation from the military or government agency to support your claim. This can be a valid way to get out of your contract, but it’s essential to review the policy and ensure you meet the requirements.
5. File a Complaint with the FCC
If you feel that Verizon has misled you or failed to provide adequate service, you can file a complaint with the Federal Communications Commission (FCC). The FCC is a government agency responsible for regulating the telecommunications industry.
While filing a complaint with the FCC won’t automatically get you out of your contract, it can put pressure on Verizon to work with you to resolve the issue. You can file a complaint online or by calling the FCC’s Consumer and Governmental Affairs Bureau at 1-888-CALL-FCC.
Negotiating with Verizon: Tips and Tricks
If you’re not eligible for any of the above options, you can try negotiating with Verizon to get out of your contract. Here are some tips and tricks to help you succeed:
Know Your Rights
Understand your contract and the terms of your agreement. Know your rights as a consumer, and be prepared to advocate for yourself.
Be Polite and Respectful
Treat the customer service representative with respect and politeness. Avoid being aggressive or confrontational, as this can harm your chances of getting a favorable outcome.
Contact the Retention Department
Ask to speak with the retention department, which is responsible for retaining customers. They may have more flexibility to offer you a better deal or waive the ETF.
Threaten to Cancel
Let the customer service representative know that you’re considering canceling your service. This can prompt them to offer you a better deal or incentives to stay.
Be Willing to Walk Away
If you’re not getting the outcome you want, be prepared to walk away from the negotiation. This shows that you’re willing to take your business elsewhere, which can prompt Verizon to make a more reasonable offer.
Conclusion
Getting out of a Verizon Wireless contract can be challenging, but it’s not impossible. By understanding your contract, exploring alternative options, and negotiating with Verizon, you can find a way to break free from your agreement without breaking the bank.
Remember to stay calm, be polite, and know your rights as a consumer. With persistence and creativity, you can find a solution that works for you.
Don’t let your Verizon Wireless contract hold you back. Take control and explore your options today.
Can I cancel my Verizon Wireless contract at any time?
You can cancel your Verizon Wireless contract at any time, but you may face early termination fees (ETFs). ETFs are charged by Verizon to compensate for the remaining balance on your contract. The amount you’ll be charged depends on the type of device you have and how much is left on your contract. Typically, Verizon charges $350 per device for ETFs, but this can be pro-rated based on the number of months you’ve had service.
It’s essential to review your contract and understand the ETFs before canceling your contract. You can also try to negotiate with Verizon to waive or reduce the ETFs, especially if you’re experiencing poor service or have other issues with your account. If you’re unsure about the ETFs or the cancellation process, it’s best to contact Verizon customer service or visit a store representative for assistance.
How do I initiate the process of canceling my Verizon Wireless contract?
To initiate the process of canceling your Verizon Wireless contract, you can start by calling Verizon’s customer service number at 1-800-VERIZON (1-800-837-4966). You’ll need to provide your account information, including your name, phone number, and account PIN. Alternatively, you can visit a Verizon store in person or chat with a representative online. Be prepared to provide a reason for canceling your contract, which may help you negotiate any ETFs.
When you initiate the cancellation process, Verizon will guide you through the steps necessary to complete the process. They may also offer you alternative options, such as changing your plan or adding new features, to encourage you to stay with their service. If you’re unsure about what to do, don’t hesitate to ask the representative for clarification. Remember to take notes during the conversation, including the representative’s name and any agreements or promises made.
What are the early termination fees (ETFs) for Verizon Wireless contracts?
Verizon Wireless charges early termination fees (ETFs) when you cancel your contract before the end of the agreed-upon term. The standard ETF for Verizon is $350 per device, but this can be pro-rated based on the number of months you’ve had service. For example, if you cancel your contract 12 months into a 24-month agreement, you might be charged $175. The ETF is intended to compensate Verizon for the remaining balance on your contract.
Keep in mind that ETFs can vary depending on the type of device and plan you have. For example, ETFs for tablet or hotspot plans may be lower than those for smartphone plans. If you’re unsure about the ETF for your specific plan, contact Verizon customer service or review your contract documents.
Can I transfer my Verizon Wireless contract to someone else?
Yes, you can transfer your Verizon Wireless contract to someone else, a process known as an “account assumption.” This can be a convenient way to get out of your contract without incurring ETFs. The new account holder will take over the remaining balance on your contract and assume responsibility for the monthly payments.
To transfer your contract, you’ll need to find someone willing to take over your account. This could be a friend, family member, or even a stranger. Once you’ve found someone, contact Verizon customer service to initiate the account assumption process. Both you and the new account holder will need to agree to the transfer and sign the necessary documents.
How long does it take to cancel my Verizon Wireless contract?
The time it takes to cancel your Verizon Wireless contract can vary depending on the method you choose. If you cancel over the phone, the process typically takes around 10-15 minutes. If you visit a Verizon store, it may take around 30 minutes to an hour. Online chat or email cancellations may take longer, often 24-48 hours to process.
After canceling your contract, you’ll need to return any leased devices to Verizon within 14 days to avoid additional fees. Be sure to keep a record of your cancellation, including the date, time, and representative’s name, in case any issues arise during the process.
Will I be able to get a refund if I cancel my Verizon Wireless contract?
Depending on your situation, you may be eligible for a refund when canceling your Verizon Wireless contract. If you’ve paid for service in advance, you may be able to get a refund for the unused portion. Additionally, if you’re canceling due to a billing error or other issue, Verizon may offer a refund or credit to your account.
To determine if you’re eligible for a refund, contact Verizon customer service and explain your situation. They’ll be able to review your account and advise on any available refunds or credits. Be sure to ask about any potential refunds during the cancellation process to ensure you receive any owed amounts.
What happens to my phone when I cancel my Verizon Wireless contract?
When you cancel your Verizon Wireless contract, you’ll need to decide what to do with your phone. If you’ve purchased the device outright, you can keep it and use it with another carrier or sell it. If you’re leasing a device, you’ll need to return it to Verizon within 14 days to avoid additional fees.
If you’re still making payments on your device, you’ll need to pay off the remaining balance or return the device to Verizon. Failure to do so may result in additional fees or damage to your credit score. Be sure to review your contract and understand your options before canceling your service.