I recently got a phone at Boost Mobile for a discounted price of around $300, but I'm stuck on this $75 monthly plan that's becoming hard for my mom to keep up with. We're looking for options to either stop the payments or somehow get a new phone without facing hefty cancellation fees. Is there a way to cancel the service or get rid of this plan without paying a lot of money?
2 Answers
Definitely check your contract details! If you’re on a subsidized plan, cancelling usually means paying back a chunk of what you saved, so it’s really about how much you can afford at this point. If you cancel, they might send your account to collections, and it’ll impact your credit score. It's better to get a clear picture before making any moves, so look at that fine print!
It sounds like you might be tied to a contract because of the subsidized phone price. When you get a phone for less upfront, you're typically agreeing to stick with a specific plan for a certain period. If you cancel now, you could owe the difference between what you paid and the full price of the phone. So, if your phone costs $1000 and you only paid $300, you could end up needing to pay back the $700 (minus any payments you've made already). Pretty rough, I know. Just a heads up; if you ignore it, it could seriously hurt your credit, so it’s worth looking into your options!
If that’s the case, do I have to pay it all in one go or can I just pay it off over time?
Where can I find these contract terms? I didn’t buy the phone myself and have no clue where they are.