How Much Does It Cost to Cancel My Verizon Plan?

How Much Does It Cost to Cancel My Verizon Plan?

Are you happy with your current Verizon Plan? If not, know that you have a right to cancel the plan at any time. However, it's good to remember that you have a customer agreement with Verizon that explicitly ensures the company interests are protected. Canceling your plan is not a free ride as most customers think. In short, you are not going scot-free.

The penalties that come with canceling the Verizon Plan depends on the timeframe of your contract. Plus, it depends on whether you are on a monthly agreement or a 2-year contract agreement.

Customers can drop lines from their family plans because canceling multiple Verizon lines results in hefty termination charges.

How Much Does It Cost to Cancel My Verizon Plan When on 2-Year Contract?

Verizon no-longer pushes for the 2-year contract nowadays. If you are still in that kind of agreement, then know that you can cancel the contract by calling customer support. Alternatively, you can visit your local Verizon store where the customer representative will verify that you are the account owner before initiating the cancellation. The purpose is to prevent Verizon from canceling someone else's account wrongly.

There are mitigating factors that determine if you are paying cancellation fees and the amount to pay. The penalties depend on how far you are on the current contract and whether your smartphone is included in the plan.

The billing charges depend on your existing billing period which means you will pay for whatever is remaining on your billing month regardless of whether it's your first day of the new billing cycle.

The early termination fees are dependent on your Verizon agreement and how far you are from it. If you cancel early, you may pay as much as $350. The amount decreases by 15% every month spent on the contract.

In case you cancel your Verizon plan within 14 days of enrolling, you can exit without any problems as long as the phone is returned and you pay a restocking fee of $35. The fees start to have impact after the initial 14 days have expired on your contract. In this case, you are responsible for applicable usage fees, taxes, surcharges and pro-rated access fees.

Besides, you pay device equipment fees which includes missing components.

Can Someone Avoid Paying the Verizon Plan Cancellation Costs?

There is no way around the fees. You can complain about poor service, which may make the company reduce the charges. Alternatively, you can opt for a new provider who accepts to pay your switching fees as long as you agree to trade in the phone and purchase one from the network.

Is There an Easy Way to Get out of Verizon Plan Contract?

No. Just tell them that you are switching to a new network provider or relocating to a new country. However, you will be subjected to the usual stuff of them trying to convince you to stay by sweetening your deal to retain you as a customer. If that's what you want, you can accept the new deal. Otherwise, stick to your resolution and insist that you are terminating the service plan.

Can I Cancel a Monthly Verizon Plan Without Paying Extra Costs?

There are no early termination fees for month to month Verizon plan agreement. Your only option is to settle the bill for the current month that you are canceling and pay the phone you are currently financing. After paying the phone costs, you can keep the phone and sell it later as it's unlikely to work on any other carrier.