On July 1st, 2011 Verizon increased its “regulatory fee” from $.13 to $.16. While for some this fee isn’t such a big deal, others wishing to break their Verizon contract for unrelated reasons now have the option to do so without incurring the $175 early termination fee.
The new regulatory fee imposes a “material adverse effect” on you which, in plainer terms, just means that you agreed to pay a certain amount when you signed your contract, they started charging you more and you can now get out of the contract you signed, scott free. After all, the regulatory fee is just a random fee charged by Verizon, not the government, which seems a little confusing since it’s called a “regulatory fee.”
When calling Verizon’s customer service you’ll want to reference the below snippet of Verizon’s Customer Agreement:
Can Verizon Wireless Change This Agreement or My Service?
We may change prices or any other term of your Service or this agreement at any time,but we’ll provide notice first, including written notice if you have Postpay Service. If you use your Service after the change takes effect, that means you’re accepting the change. If you’re a Postpay customer and a change to your Plan or this agreement has a material adverse effect on you, you can cancel the line of Service that has been affected within 60 days of receiving the notice with no early termination fee.
Customer service reps will use all the scare tactics in the book to try and keep you in your current contract but stick to your guns. Refuse ALL freebies and perks they try sending your way and if you get on the line with a rep that seems a little clueless ask to speak to a manager.
Consumerist.com provides some helpful scripts their readers have used to cancel their Verizon Contract: Here.
You only have 60 days after the regulatory fee change takes place so don’t wait! If you were looking for a way out of your existing Verizon contract this is it.
