Verizon Restructuring Early Cancellation Fees

Posted: Jun 29 2006, 6:00am CDT | by , Updated: Aug 10 2010, 5:52pm CDT, in News | Mobile Phones


Verizon Restructuring Early Cancellation Fees
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In the past couple years, we've seen mergers between multiple cell phone providers, there have been new policies developing right and left, and of course the hardware has been rapidly changing. But there's one annoying thing that's stayed the same, until now, and that's the ridiculous early cancellation fee.

Even if you want to cancel your 2-year contract two months before it's over, you'd have to pay a three-digit amount, upwards of $200. It would cost you the same to cancel the day after you sign your contract. Verizon wants to change that, and in turn put pressure on other providers to do the same.Under Verizon's proposed new plan, there would be a descending scale that would factor in how much time you have left on your contract in determining the cancellation fee, instead of a simple flat fee.

When asked about Verizon's announcement, Sprint, Cingular, and T-Mobile all gave the typical PR-speak, saying they're always looking for ways to improve customer service but have no changes in the works at the moment.

I imagine this move won't hurt Verizon much in lost potential early cancellation profits. The reason behind this move has got to be that they want to look more flexible, and hope to catch new customers that are afraid they might not be able to hang on to a long-term contract.

Full story

Report Published by: Mark Raby

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at




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