Expert: DebiN - 9/19/2009

Question
I have been with Verizon on a family plan for many years - over 8 now.  I want to change my plan to reduce it to the absolute minimum possible just to get through the rest of the contract - which ends in Jan.  If I change my plan, how does it impact the length of my contract?

Answer
Changing your plan with Verizon will not impact your contract terms in any way. Up until recently, many of the wireless carriers would add term (most notably Sprint) when you changed your plan (i.e., 1 to 2 more years). They got into a lot of trouble by doing this, so now, only if you change to a special plan that they are offering, i.e., on occasion they may offer 1,000 minutes for the price of 450 and with that special, you are required to commit to another 2 year term. If your term ends in January, you would only owe $75.00 per line if you were to cancel today. I don't know how many lines you have, but if you have 2, that's $150.00. The lowest priced family plan is $60.00 for 2 lines and it would cost you less to cancel and pay the termination penalty for 2 lines than it would to stay with Verizon from another 4 months. Weigh this before you decide to stay and validate with Verizon your termination fees. They started doing declining fees over 2 years ago, so if your contract ends in January, you definitely only have to pay $75.00 per line. I wouldn't even bother changing my plan, I would consider leaving and paying the fees which will cost you less in the long and short run. I hope this helps. Thanks. DebiN