verizon termination fee?

Question

i might be getting an iphone for christmas. i heard that verizon is doing this thing now where after youve been with them so long, the termination fee isnt 175 anymore. does anyone know how much it is if youve been with them a year and you have a two year contract?

Answer 1

nov 2006 they made a sliding ETF so each month you can take a portion of the $175 and reduce it by 24th. you can pay half of the $175 at 12 months and less and less.
but effective nov. 2006. if you were there before still pay the full rate