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What happens if my Verizon contract is canceled before my term?

So you’re thinking about leaving Verizon Wireless? Don’t worry, you’re allowed…. but it’ll cost you.

Customers can cancel their service within 14 days of accepting the Verizon agreement and not be responsible for Early Termination Fees (ETF). To avoid paying the Early Termination Fees, equipment you purchased from Verizon Wireless or one of their authorized agents must be returned within the 14-day time period.

Note: you'll still have to pay for your service through that date.

For those on the other side of the 14-day return fence…

Verizon Wireless customers who cancel a line of service during the contract term will be subject to an Early Termination Fee. Cancelation of a smartphone device will have an Early Termination Fee of $350, which will decline by $10 per month upon completion of months 7–17, $20 per month upon completion of months 18–22, $60 upon completion of month 23 and will be $0 upon completion of the contract term. For other contract terms entered into on or after November 14, 2014, your early termination fee will be $175, which will decline by $5 per month upon completion of months 7–17, $10 per month upon completion of months 18–22, $30 upon completion of month 23 and will be $0 upon completion of your contract term. If you cancel service, you may have to immediately pay off the remaining balance on any device agreement.

 If you want to keep your Verizon phone number, you may be able to transfer, or "port", your wireless phone number to another carrier. You don't have any rights to your wireless phone number, except for any right you may have to port it. Learn more about switching carriers here. If you are keeping your phone, please note that your wireless device may not work with another wireless network, or the other wireless carrier may not accept your wireless device on its network.

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