I have heard that in some states it is not legal to "ruin" someones credit when they cancel a cell phone contract, by charging early cancellation fees. But I am have difficulty finding such a law. Any help?
2006-12-04 14:27:23 · 3 answers · asked by LoverOfQT 5 in Business & Finance ➔ Credit
This .pdf file has information on canceling a contract under the section labeled : "Right To Cancel"
http://edis.ifas.ufl.edu/pdffiles/HE/HE67400.pdf
and this one has more info under "Canceling a Contract"
http://www.consumer.state.ny.us/clahm/clahm-contracts.htm#Canceling%20a%20Contract
This article has information on termination fees violating consumer rights.
http://biz.yahoo.com/ap/061114/apfn_t_mobile_lawsuit.html?.v=1
Hope this helps!
2006-12-04 14:40:51 · answer #1 · answered by popcorn 2 · 0⤊ 0⤋
I don't think that is regulated statewide. The early termination penalty would have been stated in the original contract that you signed, meaning you agreed to their terms. If you break the contract, then they can report it on your credit report.
If you find out something different, please let me know, because I would love to get out of my cell phone contract, but I'm not willing to pay the $150.00 early cancelation fee
2006-12-04 23:03:46 · answer #2 · answered by kelly h 3 · 0⤊ 0⤋
Did you pay the termination fee? If not, they do have a right to report you to the credit bureaus.
2006-12-04 22:40:20 · answer #3 · answered by personalfinancedaily 3 · 0⤊ 0⤋