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Verizon to Double Early Termination Fee [Rumor]

Source: Gizmodo

Nov 04, 2009

Summary

Now, you can sign a new contract with Verizon, pick any phone and then ditch the service for $175. But according to a leaked doc, those days are numbered.

Beginning 11/15, early terminations on contracts with unspecified "advanced device"(s) will be subject to a fee of $350. And while that policy might slow ebay entrepreneurs just looking to make a few easy bucks on a resold Blackberry, it's devastating to the average guy who just wants to ditch his contract early.

The good news, however, is that fee will drop by $10 every month. But still, that's a $110 termination fee in month 23 of a 2-year contract...which is clearly absurd. [BGR]