Verizon Early Termination Fee Doubles on "Advanced Devices"

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Up until now Verizon’s cancellation fee was only $175 meaning that you could’ve signed a new contract for an expensive smartphone, break your contract and put it up for sale on eBay (for example) getting you a little profit along the way. But Big Red has gotten smarter and doubled their early termination fee, charging $350 to those who break their contracts signed after November 15th — or at least that’s what  leaked document says.

Our good folks from BoyGeniusReport have managed to get their hands on an internal Verizon memo where they say that “Beginning 11/15/09, customers purchasing an Advanced Device with a 1 or 2 year service agreement will be subject to an ETF of up to $350 if they disconnect service prior to completing the minimum term. The $350 EFT will decrease by $10 for each month of service completed”.

There’s nothing official regarding the doubled early termination fee or what exactly an “advanced device” is, although we may have a clue that everything more expensive than $300 will fall into that category.

So are you still going to buy a handset after Nov 15?