[DT] Verizon to Charge $350 for Smart Phone Contract Termination - Overclock.net

ElMikeTheMike · 3 Weeks Ago

Quote:

Verizon may be keeping customers happy with its Buy-One-Get-One sale on Blackberries, including the new Blackberry Storm 2, but some new terms are likely to make customers not so happy.

Verizon had been noticing that some customers had been using the promotion to snag some extra cash, getting an extra line with a Blackberry Tour or Storm 2, then selling it on eBay after paying the $175 termination fee, in the end pocketing about $100 or more in cash. An unhappy Verizon has decided to punish all its customers and will be rolling out increased early termination fees, in a move reportedly confirmed by Boy Genius Report.

The wireless carrier will bump ETFs to $350 for new smart phone 1 year and 2 year contracts. To soften the blow, Verizon plans to drop this amount by $10 a month, but that's still substantially more at the year mark (previously $175 or less, now $230). Verizon still has yet to specify a full list of models the term "advanced devices" covers (the term used in the ETF hike info sheet), but we're guessing it includes the Blackberry Tour, Storm 2, and Droid phones, at least.

DT

Wow.

ImmortalKenny · 3 Weeks Ago

Verizon has always had high cancellation prices IIRC.

Andy! · 3 Weeks Ago

verizon always has high everything....

**Mootsfox** · 3 Weeks Ago

How much of a legal right do they have to claim these charges? Can they really do anything but threaten you/send bill collectors?

nathris · 3 Weeks Ago

Quote:

Originally Posted by Mootsfox

How much of a legal right do they have to claim these charges? Can they really do anything but threaten you/send bill collectors?

You signed a contract with them, agreeing to these terms, so they have every right. They probably won't take you to court but if you simply stop paying your phone bill its going to destroy your credit.

MrDeodorant · 3 Weeks Ago

You sign up for it, they can charge it.

Edit: Dammit, nathris!

chronostorm · 3 Weeks Ago

Quote:

Originally Posted by Mootsfox

How much of a legal right do they have to claim these charges? Can they really do anything but threaten you/send bill collectors?

Well, this is written in their contract, I'm sure. So you are legally required to pay them.

You can say it with almost everything-- that all companies can do for the most part is threaten you and send bill collectors.

jpark59 · 3 Weeks Ago

these rich ass companies are getting greedier all the time

identitycrisis · 3 Weeks Ago

Quote:

Originally Posted by jpark59

these rich ass companies are getting greedier all the time

Fair enough, but what about the people profiting off of the canceled contracts and sold phones? Its a promotion to get people to use there service, all providers offset the ridiculous costs of the phones to the consumer through the contracts.

Why shouldn't they protect themselves?

This is just like way back when, microsoft was giving away copies of Vista Ultimate for playing those stupid online flash games. You had people cheating and getting all the points they could buying 6, 8, 10 copies of the OS to sell... So the people who played normally ended up stuck with some upgrade version of Home Premium if at all.

Greedy companies, I say greedy consumers ruin everything.

Don't get me wrong, there is a serious problem with the way big companies get away with everything, or bailed out for that matter. But I see the reasoning behind it.

And to be honest, verizon has great coverage, not always the best customer service, but no worse than most ive dealt with.

MrDeodorant · 3 Weeks Ago

How dare they sell you products at a discount with the expectation that you subscribe both of them onto their service, and provide them with income over the next few years?

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[DT] Verizon to Charge $350 for Smart Phone Contract Termination

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