Does Verizon Charge an Early Termination Fee?

Does Verizon Charge an Early Termination Fee?

Verizon charges early termination fees in cases where a consumer cancels a service during the contract term or if Verizon cancels it due to a breach of agreement. The early termination fee, as of 2015, ranges between $175 and $350, and the amount lowers for each month spent under contract.

In cases where the contract is based on the purchase of an advanced device after Nov. 14, 2014, each month spent under contract in the period between the seventh and the 17th month lowers the early termination fee by $10, while the period between the 18th and the 22nd month lowers the amount by an additional $20 per month. One way to avoid paying the early termination fee is to cancel a service within 14 days of signing the contract and returning the equipment that is part of the service.