Exiting a three-year contract with any service provider, especially a major one like Verizon, can feel like navigating a labyrinth blindfolded. But fear not! While Verizon's policies are designed to encourage long-term commitment, there are pathways and strategies you can explore to potentially mitigate or even avoid hefty early termination fees (ETFs). This comprehensive guide will walk you through the process, step by step, empowering you to make informed decisions.
How to Get Out of a Verizon 3-Year Contract: Your Definitive Guide
So, you're locked into a three-year Verizon contract and circumstances have changed. Maybe you're moving, your financial situation has shifted, or you've simply found a better deal elsewhere. Whatever the reason, you're wondering, "Is there a way out without breaking the bank?" The answer is often "yes," but it requires a strategic approach and a thorough understanding of your agreement. Let's dive in!
Step 1: Engage and Understand Your Contract - The First Crucial Move!
Before you do anything else, you absolutely must lay your hands on your original Verizon customer agreement. This isn't just a suggestion; it's the cornerstone of your entire strategy.
Locate Your Agreement:
Online Account: Log into your My Verizon account. Most agreements are available digitally. Look for sections like "My Documents," "Legal," or "Terms and Conditions."
Email Confirmation: Check your email archives for the initial sign-up confirmation or any "Welcome Kit" emails from Verizon.
Physical Copy: If you signed up in-store, you might have a physical copy. Dig through your files!
Contact Verizon Customer Service (as a last resort): If you can't find it, call Verizon customer service and request a copy of your specific contract. Be prepared to verify your identity.
Scrutinize the Details:
Contract Start and End Dates: Clearly identify when your 36-month term began and when it's scheduled to end.
Early Termination Fee (ETF) Clause: This is the most critical section. Verizon's ETF policies can vary. For older "contract" models, the ETF for advanced devices might start at $350 and decline over time. For newer device payment plans, the "ETF" might simply be the remaining balance on your device. Understanding which applies to you is paramount.
Promotional Terms: Did you receive a "free" phone with bill credits over 36 months? If so, terminating early means those credits stop, and you'll owe the remaining balance of the device.
Change of Terms Clause: Look for language that states Verizon's right to change terms and conditions. Sometimes, if they make a material adverse change, you have a window to cancel without an ETF.
Step 2: Calculate Your Potential Financial Exposure
Once you understand your contract, it's time to crunch the numbers. This will help you determine the best course of action.
Sub-heading: Understanding the Different "Early Termination Fees"
Traditional ETF (for older contracts): If you're on an older plan with a traditional 2-year or 3-year contract for service (less common now for consumer mobile lines), your ETF might be a fixed amount that decreases monthly. For example, it might start at $350 and decline by $10-$20 per month. You'll need to calculate how much remains based on your contract's end date.
Device Payment Plan (most common today): For most modern Verizon plans, you likely have a device payment agreement (DPP) where you pay for your phone in monthly installments over 24 or 36 months. There isn't a separate "early termination fee" for the service itself in this scenario. Instead, if you cancel service, the entire remaining balance on your device becomes immediately due. This can be a significant amount, especially early in the term.
Example: If you have a $1200 phone on a 36-month plan and cancel after 12 months, you'll owe $1200 - (12 * your monthly device payment).
Promotional Credits: Many "free phone" or discounted phone promotions are tied to remaining with Verizon for the full 24 or 36 months. These typically involve monthly bill credits that offset the device payment. If you cancel early, you lose these future credits, effectively making you responsible for the full remaining device balance.
Sub-heading: Gathering Billing Information
Access your recent Verizon bills.
Identify the separate charges for your service plan and any device payment installments.
Note any promotional credits applied to your device.
Step 3: Explore Early Termination Fee Avoidance Strategies
While not guaranteed, several avenues might help you reduce or eliminate the financial impact of leaving early.
Sub-heading: The "Material Adverse Change" Clause
Verizon's customer agreement often states that if they make a material adverse change to your service terms, you might have a window (typically 30 days after the change appears on your bill) to cancel without an ETF.
How to use it: Keep a close eye on your monthly bills and any communications from Verizon about plan changes, price increases (excluding taxes and fees), or significant alterations to your service. If you spot one, act quickly within the specified timeframe. This is a common and legitimate way to exit without penalty.
Sub-heading: Transfer of Service (Assumption of Liability - AOL)
This is often the cleanest way to get out of a contract without penalty. You find someone willing to take over your existing line of service, including the remaining contract or device payment plan.
Who to target: Friends, family, or even online forums dedicated to cell phone contract transfers.
Process: Both you and the new party will need to contact Verizon customer service to initiate an Assumption of Liability. Verizon will perform a credit check on the new party. If approved, the line and its associated obligations transfer, and you're free!
Sub-heading: Relocation to a Non-Service Area
If you're moving to an area where Verizon genuinely doesn't offer service (or comparable service, like Fios for home internet), you might be able to get the ETF waived.
Proof Required: You'll typically need to provide proof of your new address, such as a utility bill or lease agreement, dated within a specific timeframe (e.g., 60 days from disconnection).
Important Note: This generally applies more to home internet services (like Fios) where service is location-dependent. For mobile service, Verizon's network is extensive, so this might be harder to prove unless you're moving to a truly remote location.
Sub-heading: Military Deployment
Active military personnel being deployed overseas or to an area where Verizon service is unavailable typically have specific rights under the Servicemembers Civil Relief Act (SCRA) to terminate contracts without penalty.
Documentation: You will need to provide official military orders.
Sub-heading: Negotiating with Customer Retention
This is where your negotiation skills come into play. Call Verizon's customer service and ask to speak with the "Retentions Department" or "Cancellations Department." These representatives have more leeway to offer solutions.
Be Polite but Firm: Explain your situation clearly and calmly.
State Your Intent: Clearly state that you are looking to terminate your service and understand there may be fees.
Inquire About Options: Ask if there are any options to reduce or waive the fees. They might offer:
A smaller, discounted plan that meets your needs.
A temporary suspension of service (if you just need a break).
Occasionally, a partial waiver of the ETF, especially if you've been a long-time, good customer.
A trade-in offer for your device if you switch to a different Verizon plan.
Don't Be Afraid to Hang Up and Call Again: If you don't get a satisfactory answer, try calling at a different time and speaking to another representative. Policies can be interpreted differently, and some reps have more authority or experience.
Step 4: Consider Alternatives to Full Cancellation
Sometimes, a full cancellation isn't necessary, or the cost is prohibitive. Explore these options:
Sub-heading: Suspending Your Line
If you only need a temporary break from service (e.g., going overseas for a few months), Verizon allows you to suspend your line. You'll still be responsible for any device payments, but your monthly service charge will be significantly reduced or waived during the suspension period.
Check Terms: Understand the maximum suspension period and any associated fees.
Sub-heading: Downgrading Your Plan
If the cost is the primary issue, consider downgrading to a cheaper Verizon plan. This keeps you with the carrier and avoids ETFs, but reduces your monthly outlay.
Be mindful of Data Caps: Ensure the new plan still meets your essential needs.
Sub-heading: Paying Off Your Device
If you're on a device payment plan, you can always pay off the remaining balance of your phone at any time. Once the device is paid off, it belongs to you, and it typically becomes unlocked (or eligible for unlocking after a certain period of active service).
Benefit: Once unlocked, you can then sell the phone or use it with another carrier, potentially recouping some of your costs. While you'll still have to pay for the remaining service period on your Verizon plan, it offers more flexibility with your device.
Step 5: Formalizing Your Cancellation (If Necessary)
If you've exhausted all other options and decide to proceed with cancellation, follow these steps carefully.
Contact Verizon Customer Service: This is the primary way to initiate a cancellation. Be prepared for a retention specialist to try and keep your business.
Port Your Number (If Desired): If you want to keep your phone number, do NOT cancel your Verizon service before porting it to your new carrier. Initiating the porting process with your new carrier will automatically trigger the cancellation of that line with Verizon. This is crucial to avoid losing your number.
Return Leased Equipment: If you leased any equipment (e.g., Fios router, cable boxes), make sure to return them promptly to avoid additional charges. Get a receipt for your return.
Understand Your Final Bill: Your final bill will include charges up to your cancellation date, any accrued usage, and potentially the remaining balance on your device or the early termination fee.
Monitor Your Credit: Ensure that your account is closed correctly and that no unexpected charges appear that could negatively impact your credit score.
10 Related FAQ Questions:
How to find out my exact contract end date?
You can find your exact contract end date by logging into your My Verizon online account, checking your original customer agreement documents, or calling Verizon customer service.
How to calculate the early termination fee for my specific contract?
For older contracts, the ETF is usually a declining balance (e.g., $350 minus a set amount per month completed). For device payment plans, the ETF is the remaining balance on your device. Check your contract and recent bills for specifics.
How to transfer my Verizon contract to another person?
This is done through an "Assumption of Liability" (AOL). Both you and the person taking over the contract must contact Verizon customer service to initiate the process and for the new party to undergo a credit check.
How to avoid early termination fees if I'm moving?
If you're moving to an area where Verizon does not offer service, you may be able to get the ETF waived. You'll typically need to provide proof of your new address. This is more common for home internet services.
How to keep my phone number when switching carriers from Verizon?
Do not cancel your Verizon service directly. Instead, initiate the porting process with your new carrier. They will handle the transfer of your number, which automatically cancels that line with Verizon.
How to tell if I'm on a traditional contract or a device payment plan?
Check your billing statement. If you see a separate monthly charge for your device, often labeled "Device Payment," you're likely on a device payment plan. Traditional contracts usually didn't break out the device cost monthly in the same way.
How to negotiate with Verizon's customer retention department?
Be polite, clearly state your intent to cancel, and explain your reasons. Ask about any options they can offer to keep you as a customer, such as plan changes, temporary suspensions, or partial fee waivers. Don't be afraid to escalate or call back if you're not satisfied.
How to temporarily suspend my Verizon service?
Contact Verizon customer service. They can guide you through the process of suspending your line, which reduces your monthly service charge for a set period. Device payments will usually continue during suspension.
How to pay off my phone early on Verizon?
You can typically pay off your remaining device balance at any time through your My Verizon online account or by contacting customer service. Once paid off, the device is yours and may be eligible for unlocking.
How to get out of a Verizon contract due to a material adverse change in terms?
Regularly review your Verizon bills and communications for any significant, negative changes to your service terms or pricing (excluding taxes/fees). If a material adverse change occurs, you typically have a 30-day window from the first bill reflecting the change to cancel without an ETF.