Question about deposit and grace period.
NerdGenius
Newbie

I signed up for Verizon in January of this year to purchase the Galaxy Nexus. When I signed up I had to pay a deposit of $400 which wasn't an issue. I have payed on time every month except this month. I recently got a new job and the pay structure is different from my previous job. My bill is always due on the 3rd of each month. I talked to customer service and told them I couldn't pay until the 14th because of my new job pay date. They say that would be fine because its within the grace period and I wouldn't be disconnected.  My question is will I not get my deposit for being late this one time? Also exactly how long is the grace period? I ask this because this will be 11 days after my due date and 6 days after my new cycle.

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Re: Question about deposit and grace period.
rcschnoor
Legend

You will most likely not get you security deposit back until later. I believe you have to go a year with NO late payments before you will be able to get your security deposit back.

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Re: Question about deposit and grace period.
AZSALUKI
Legend

i'm not positive about verizon's grace period, but typically, grace periods are at least 30 days. most places (utilitites, etc) do not shut off services or report the late payment to credit beureuos until the payment is 30 days late.

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Re: Question about deposit and grace period.
tikibar1
Community Leader
Community Leader

yep, you remembered correctly  :

9. Deposits

- Security deposits must be cash, credit card or certified
funds. Verizon Wireless Cellular may apply any security deposit to any sums due
from you. Funds received by Verizon Wireless Cellular as a security deposit or
otherwise will not accrue interest. Security deposits will be held in your
account until you have completed one year of satisfactory payment history
without interruption for nonpayment.

Terms and Conditions

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