Question About Payment to Phone Carrier

Discussion in 'iPhone' started by Dan50, Oct 8, 2016.

  1. Dan50 macrumors regular

    Joined:
    Apr 11, 2014
    #1
    My friend wants to know if she would get in trouble if she stops paying 30 bucks monthly to Verizon (for retail fee) and ditch for her iPhone 6S she bought last year and instead she wants to get new iPhone 7?
     
  2. C DM macrumors Westmere

    Joined:
    Oct 17, 2011
    #2
    As in stop paying for a financed phone? It's basically a loan, so when someone stops paying a loan that's the kind of thing that would happen (calls to get the payments, collection agencies, and reports of non-payment on credit history).

    Now, there are probably options to trade-in the device to get credit for the rest of the payments or something like that, and that would be something that should be explored.
     
  3. Dan50 thread starter macrumors regular

    Joined:
    Apr 11, 2014
    #3
    Does that mean that she could possibly trade in for the 7 to Verizon? Even she trades in with Verizon, can she switch to AT&T in few months if she want a carrier change?
     
  4. Thor_1, Oct 9, 2016
    Last edited: Oct 9, 2016

    Thor_1 macrumors 6502a

    Joined:
    Sep 18, 2016
    Location:
    Texas
    #4
    Most carriers have some sort of switching thing right now. They pay off so much of what you owe.

    But if she stops paying, it will mess with their credit and more than likely the phone will be shut off

    Really concerning that this question was even asked.
     
  5. bhayes444 macrumors 6502a

    Joined:
    Jul 13, 2013
    #5
    Only Verizon knows the answer to that question, best to call them about it. If she finances the iPhone 7 through Verizon she could switch to AT&T, but would need to pay off the rest of the device loan to Verizon first.
     
  6. canuckRus macrumors 6502

    canuckRus

    Joined:
    May 18, 2014
    #6
    She would HAVE TO pay off the balance owing for the phone and then switch to a carrier of choice and buy the 7 using the 6s as a trade-in. NEVER merely stop payment. Would have horrendous effect on their credit rating.
     

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