Are you feeling tied down by your Verizon contract, dreaming of freedom from monthly payments and device commitments? You're not alone! Many users find themselves in situations where their current plan no longer suits their needs, or a better offer comes along. While Verizon, like any carrier, aims to retain its customers, there are indeed ways to navigate the process of breaking your contract. This comprehensive guide will walk you through each step, helping you understand your options and minimize potential costs.
Let's dive in and explore how you can break free from your Verizon contract!
Breaking Free: A Step-by-Step Guide to Ending Your Verizon Contract
Understanding the nuances of Verizon's policies and your own agreement is crucial. The key often lies in recognizing that modern "contracts" are often tied to device payment plans rather than traditional service contracts with a fixed term and associated early termination fees (ETFs) in the way they once were. However, early termination fees can still apply in certain circumstances, especially for older plans or specific service agreements.
Step 1: Understand Your Current Agreement – The First and Most Critical Step!
Before you do anything, you need to know exactly what you're dealing with. Don't just assume what your contract entails. Many people mistakenly believe they have a traditional two-year service contract with an ETF, when in reality, they might be on a device payment plan.
Sub-heading: Locate Your Verizon Customer Agreement and Device Payment Plan Details
My Verizon Account: Your absolute best resource is your My Verizon online account. Log in and navigate to your account details. Look for sections like "My Devices," "My Plans," or "Account Agreements." Here, you should find:
Service Agreement Terms: This will specify if you have a traditional service contract with a defined end date and potential Early Termination Fees (ETFs). While less common now for new consumer accounts, it's still possible for older plans or business accounts.
Device Payment Agreements (DPP): If you purchased a phone on an installment plan, you'll see the original cost of the device, the remaining balance, and the number of payments left. This is often the biggest financial commitment when leaving Verizon early.
Promotional Credits: Did you get a "free" or discounted phone with monthly credits? These credits often cease if you cancel the line, making the full remaining device balance due.
Recent Bills: Your monthly Verizon bill often includes a summary of your plan, device payment status, and any active promotions. Scrutinize the fine print.
Original Purchase Documentation: If you kept the paperwork from when you first signed up, review it carefully.
Sub-heading: Identify Potential Costs: ETFs vs. Device Balances
Early Termination Fees (ETFs): If your agreement does include an ETF for early service cancellation, understand how it's calculated. For advanced devices, the fee might be around $350, declining by a certain amount each month (e.g., $10-$20/month). For other contract terms, it could be $175, also declining monthly.
Device Payment Plan Balances: This is usually the most significant cost for those leaving early. If you have a phone on a payment plan (e.g., 24 or 36 months), the entire remaining balance becomes due upon cancellation of that line. This can be hundreds or even over a thousand dollars per device.
Promotional Credit Recapture: If your "free" phone was actually free due to monthly bill credits, those credits will stop when you cancel. You'll then be responsible for the remaining balance of the device at its full retail price.
Step 2: Explore Alternatives to Immediate Cancellation
Sometimes, a full break isn't necessary or the most cost-effective solution. Consider these options before pulling the plug entirely.
Sub-heading: Option A: Suspend Your Service (Temporary Solution)
What it is: If you're going to be away for an extended period (e.g., studying abroad, military deployment), you might be able to temporarily suspend your service.
How it works: Verizon allows you to suspend your line for a period, often up to 90 days, sometimes longer for military personnel. During this time, you usually pay a reduced monthly fee (e.g., $10/month) or, in some cases, no fee, but your device payments will likely continue.
Benefit: This allows you to retain your number and avoid immediate termination fees or device balance payments if your absence is temporary. Your contract term (if applicable) may not count during the suspension period.
Sub-heading: Option B: Change Your Plan (Reduce Monthly Costs)
What it is: If the issue is simply the cost of your monthly service, you might be able to switch to a cheaper Verizon plan.
How it works: Contact Verizon customer service or explore options on My Verizon. They have various plans, including prepaid options, that might better suit your budget without fully terminating your service.
Benefit: No early termination fees, you keep your number, and you avoid paying off devices immediately.
Sub-heading: Option C: Transfer of Service (Assumption of Liability)
What it is: If you know someone (a friend, family member, or even a willing stranger) who wants to take over your line and its associated contract/device payments, Verizon may allow a "Transfer of Service" or "Assumption of Liability."
How it works: Both you and the new party must agree and go through Verizon's process. The new party will undergo a credit check and, if approved, will take full responsibility for the line, including any remaining device payments or contract terms.
Benefit: You walk away clean, with no financial penalties. This is often the most ideal solution if feasible.
Step 3: Initiate Contact with Verizon Customer Service
Once you understand your situation and have considered alternatives, it's time to speak directly with Verizon.
Sub-heading: Preferred Method: Call Customer Service
Why phone? While online options exist for some basic account management, calling customer service (1-800-922-0204 for wireless) gives you the best chance to discuss your specific situation, explore retention offers, and negotiate.
Be Prepared:
Account Information: Have your account number, account PIN, or the last four digits of the account owner's SSN ready. Only the account holder can cancel service.
Reason for Canceling: Be clear and concise. While you don't need to lie, having a legitimate reason (e.g., moving to an area with no Verizon coverage, financial hardship, dissatisfaction with service/price) can help.
Negotiation Points: Be ready for retention specialists to offer incentives (e.g., discounts, plan changes, temporary suspensions). Don't be afraid to politely decline if their offers don't meet your needs.
Documentation: Note down the date and time of your call, the name of the representative you speak with, and any agreements or information provided. This is crucial for future reference.
Sub-heading: Online and In-Store Options (Limited for Cancellation)
My Verizon Website/App: You can sometimes initiate a disconnection request online for individual lines. However, for full account closure or complex situations, a phone call is usually required.
Verizon Store: While they can help with many account issues, store representatives often direct you to customer service for cancellations, as they have different tools and incentives.
Step 4: Navigate the Cancellation Process and Fees
This is where the rubber meets the road. Be firm but polite.
Sub-heading: Confirmation of Charges
Demand Clarity: When you state your intent to cancel, the representative should inform you of all associated costs, including any remaining device payments and, if applicable, early termination fees.
Request a Detailed Breakdown: Ask for a precise breakdown of these charges and when they will appear on your final bill.
Billing Cycle Impact: Cancellations are typically effective on the last day of your current billing cycle. You will be responsible for all charges up to that date. Consider canceling towards the end of your billing cycle to maximize your paid service.
Sub-heading: Device Returns (If Applicable)
Return Policy: If you are within the 30-day return period for a new device purchased from Verizon, you can return it to avoid device payment obligations (though a restocking fee may apply, typically around $50).
No Return for Paid-Off Devices: If your device is paid off or you're paying off the balance, you own the device. You do not return it to Verizon.
Sub-heading: Porting Your Number (Crucial Order of Operations!)
Port BEFORE Canceling: If you want to keep your current phone number, DO NOT cancel your Verizon service before initiating a transfer (port) to your new carrier. If you cancel first, your number may be lost.
How it Works: When you activate service with a new carrier and request to keep your old number, the new carrier will handle the porting process with Verizon. This automatically triggers the cancellation of that specific line on your Verizon account.
Confirm Account Information: Ensure the information you provide to your new carrier (account number, PIN/SSN) exactly matches your Verizon account to avoid porting delays.
Step 5: Post-Cancellation: Review Your Final Bill
Even after you've "broken up" with Verizon, your job isn't quite done.
Sub-heading: Receive and Scrutinize Your Final Bill
Expect a Final Bill: Verizon will send you a final bill after your service is officially terminated. This bill will include any remaining device balances, early termination fees, and prorated charges for service used up to the cancellation date.
Verify Accuracy: Compare the charges on your final bill with what the customer service representative quoted you. If there are discrepancies, contact Verizon billing immediately.
Sub-heading: Payment of Outstanding Balances
Timely Payment: Pay your final bill promptly to avoid any collections issues or negative impact on your credit score.
Related FAQ Questions (Starting with 'How to')
Here are 10 frequently asked questions about breaking a Verizon contract, with quick answers:
How to avoid Verizon early termination fees?
You can avoid ETFs by completing your contract term, transferring liability to another person, or canceling within the 30-day trial period (and returning equipment). For newer plans, the main "fee" is typically the remaining balance on your device payment plan.
How to calculate Verizon's early termination fee?
For older contracts with an ETF, it was typically $350 for advanced devices, declining by $10-$20 per month after the first 6 months, and $175 for other devices, declining by $5-$10 per month.
How to transfer my Verizon number to a new carrier?
To transfer your number, do not cancel your Verizon service first. Instead, sign up with your new carrier and initiate a "porting" request with them. Provide your Verizon account number and PIN/SSN, and the new carrier will handle the transfer, which automatically cancels that line with Verizon.
How to find out if I have a contract with Verizon?
Log into your My Verizon account online, check your recent bills, or review your original purchase documents. Look for "Service Agreement Terms" or details on your device payment plan.
How to suspend my Verizon service temporarily?
Contact Verizon customer service and inquire about suspending your line. This is often allowed for up to 90 days, sometimes longer for military personnel, usually for a reduced fee, though device payments may continue.
How to negotiate a lower early termination fee with Verizon?
While direct negotiation for a lower ETF is rare, you can try contacting customer service. Sometimes, if you're a long-time customer or have a compelling reason, they might offer a one-time credit or a more flexible payment arrangement. Switching to a new carrier who offers an ETF buyout is a more common "negotiation."
How to get a new carrier to pay for my Verizon early termination fee?
Many competing carriers (like T-Mobile or AT&T) offer "buyout" programs where they will reimburse you for your ETF or remaining device balance when you switch to their service. You typically have to pay Verizon first, then submit your final bill to the new carrier for a credit or prepaid card.
How to cancel my Verizon account if I am moving abroad?
If you're moving permanently, you'll need to cancel your lines. If it's temporary, consider suspending your service. Be prepared to pay off any remaining device balances. If you wish to keep your number, port it to a service that supports international numbers or a VoIP service before canceling.
How to return a device to Verizon after canceling?
You can generally only return a device if you are within the 30-day return policy from the purchase date. A restocking fee typically applies. If you're outside this window, or if you financed the device, you will need to pay off its remaining balance, and the device is then yours to keep or sell.
How to disconnect a single line on a Verizon family plan?
The account owner can disconnect a single line by contacting Verizon customer service or sometimes through the My Verizon website. Be aware that the remaining device payment balance for that specific line will become immediately due, and any associated promotions might be forfeited.