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Contract End/Early Exit Fee

  • 25 January 2021
  • 5 replies
  • 462 views

Userlevel 1

Hello,

I started a phone contract mid December (2020) and I am am wondering what the cost would be to leave the plan early. I have a 24 month contract. I have changed my mind and do not want a smart phone, and I am concerned that I will have to pay the full two years now that I am outside of the "cooling off" period.

 

Would it be possible to pay off the outstanding balance in a payment plan so that it is cheaper?, because I don't have a good financial situation.

Thanks.

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Best answer by Michelle 2 February 2021, 10:22

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5 replies

Userlevel 6
Badge +10

Hi @David7,

Any cancellations outside of the returns period would result in there being a termination fee applied to the bill. If you text the word INFO to 85075 this should tell you how much would be left to pay if you did want to leave early. In regards to your financial position, is this as a result of the coronavirus pandemic?

Ryan

Userlevel 1

I am homeless and unemployed, and I needed a phone during the current lockdown as I had no access to the Internet, due to the libraries being closed. 

 

Once the lockdown is over, I will have no need for Internet access and I may not have any income at all to be able to pay for the phone. I apparently need to pay £587 for the remaining bill. It would be equivalent for keeping the phone for 2 years, but my issue is that I have come to the conclusion that I do not like having a smart phone. I was in need of Internet access in order to achieve certain things, and because of the lockdown,

it was my only option.

 

Now I'm stuck with it. As I said, any money that I have when the lockdown is over will be used for food only, and I do not like having access to the Internet when I don't need it (the majority) of the time, because it doesn't do me any good mentally. If I had access to a library, I would only go there occasionally like I have done I  the past. Its all or nothing apparently. And I would need to spend any money I have on food.

Userlevel 4
Badge +10

Hi @David7 

What phone was it you took out on contract?

You could potentially look to sell that privately to recoup a chunk of the termination fee.  Then if you’re struggling to pay the rest, eventually that balance will be passed to a Debt Recovery Service whom you could then agree to pay in any installments that suit you going forward.

Whenever a 24-month contract is taken out, you agree to pay the monthly repayments which cover the cost of the phone and the tariff.  So never would it be recommended to sign a 24-month agreement for any sort of short term need.

You could also sell your phone if you won’t be needing a smartphone and use your iD Mobile SIM in any other phone of your choosing, then simply pay your monthly installments thereafter to ensure you can use that SIM without interruption.

Userlevel 1

Okay, thanks.

Userlevel 5
Badge +8

No problem @David7 

Please do get back in contact if you require any further help. 

 

Michelle 

Why iD Mobile?