$350 early termination fees now remain $350 until eight months into a contract.
by Jon Brodkin
Verizon Wireless just made it more expensive to cancel service by delaying monthly reductions in early termination fees (ETFs) until the eighth month of a contract.
Until today, the early termination fees of $350 for new smartphone contracts declined $10 each month. Customers who signed contracts before today will still see their ETFs decline the first month and all months thereafter. But customers who sign up today or later will not see any reductions until the eighth month, Verizon's updated customer agreement says. That means that after seven months, a customer's ETF would remain at $350 instead of declining to $280.
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