# Early Termination Fee **URL:** \ **Category:** Factual Questions\ **Created:** [February 4, 2012, 1:00pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751 "2012-02-04T13:00:11Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![Cptmorgan67](https://avatars.discourse-cdn.com/v4/letter/c/c37758/32.png) [@Cptmorgan67](https://boards.straightdope.com/u/Cptmorgan67)\ **Post date:** [February 4, 2012, 1:00pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/1 "2012-02-04T13:00:11Z")
I have verizon wireless and I need to get out. I am well aware of the fee but what I don’t know is if I can pay them so much a month until it is paid and will that effect my credit score? I gave them every opportunity to help us both and they wanted nothing to do with it. So I figure ok I will pay the $350 but figure I will let it take 35 months. ---
**Author:** ![BeaMyra](https://avatars.discourse-cdn.com/v4/letter/b/2bfe46/32.png) [@BeaMyra](https://boards.straightdope.com/u/BeaMyra)\ **Post date:** [February 4, 2012, 3:09pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/2 "2012-02-04T15:09:33Z")
A company has to report you as delinquent, it’s not automatic. So as long as the company doesn’t report you, you should be fine. I would call and tell them you’re cancelling. They’ll likely send you to retention, and you may be able to stay with them. I do this on my AT&T U-verse and so far they always give me a deal to keep me from going to cable. ---
**Author:** ![Covered\_In\_Bees](https://avatars.discourse-cdn.com/v4/letter/c/7ab992/32.png) [@Covered\_In\_Bees](https://boards.straightdope.com/u/Covered_In_Bees)\ **Post date:** [February 4, 2012, 7:18pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/3 "2012-02-04T19:18:47Z")
If you cancel your service and incur the early termination fee there is no payment plan for it. It gets charged in full to your next bill. However you pay it from there is up to you but if the bill is not paid in full like normal you’ll get closer and closer to having your debt sold to a collection agency. If you think it’ll take 35 months, it’s definitely going to go to a collection agency. EDIT: Regarding your credit score, it won’t be Verizon that does any credit reporting, it’s the collection agencies that do that. ---
**Author:** ![drewtwo99](https://avatars.discourse-cdn.com/v4/letter/d/d07c76/32.png) [@drewtwo99](https://boards.straightdope.com/u/drewtwo99)\ **Post date:** [February 4, 2012, 7:21pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/4 "2012-02-04T19:21:08Z")
Yeah they won’t let you pay installments on a cancellation fee. You’re going to have to pay it all at once. ---
**Author:** ![industrialfish](https://avatars.discourse-cdn.com/v4/letter/i/fbc32d/32.png) [@industrialfish](https://boards.straightdope.com/u/industrialfish)\ **Post date:** [February 4, 2012, 10:49pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/5 "2012-02-04T22:49:28Z")
When I canceled my Verizon monthly contract October 8th 2011, the fee was added to the final bill. It was only $150 though as I’d been a Verizon customer for too many years. I paid it over the next few months in $40 installments with no problems. They just kept sending me a bill every month like normal till it was paid off. ---
**Author:** ![RaftPeople](https://avatars.discourse-cdn.com/v4/letter/r/6f9a4e/32.png) [@RaftPeople](https://boards.straightdope.com/u/RaftPeople)\ **Post date:** [February 4, 2012, 11:17pm UTC](https://boards.straightdope.com/t/early-termination-fee/611751/6 "2012-02-04T23:17:17Z")
> [@Cptmorgan67](#): > > I have verizon wireless and I need to get out. I am well aware of the fee but what I don’t know is if I can pay them so much a month until it is paid and will that effect my credit score? I gave them every opportunity to help us both and they wanted nothing to do with it. So I figure ok I will pay the $350 but figure I will let it take 35 months. Remember that the early termination fee is prorated based on the time you’ve spent on the contract (I think there was a law passed). It’s only the full amount at the start.