Security Deposit Question
ashoop
Newbie

I really want to know when we'll be getting our security deposit back! It's been awhile now and we were gonna use it to go see family

 

[edited to clarify title]

Message Edited by WendyM on 05-14-2009 11:32 AM
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Re: my phone isnt working! i need help!
DarkCobra
Contributor - Level 3

Hello and welcome to the forum.    Unfortunately, the title of your post (My phone isn't working!) seems to have little to do with what you are asking in the body of your above posting.    It appears at the time of your contract either you had not established any credit or there was a problem with your credit.   In such cases, Verizon can allow you to establish service providing you pay an upfront security deposit which insures you will pay your bills in a timely manner.

 

It is my understanding that If you paid a Security Deposit when you started service with Verizon you will get it back with interest after 12 months as long as you make all your payments on time.    Their actual policy on this can be found below.    Essentially, it says

. . . If you paid a security deposit, it may take between 30 and 60 days to process the return of your security deposit.   The charges for any service used on the account before the service termination date may be applied against your security deposit.

 

It appears you need your funds quickly.   I would encourage you to contact them and request a courtesy hardship acceleration of your refund as you say you need it to travel to see family (possibly an emergency?).     They may grant the request and you may have to ask to speak to a supervisor to obtain it.   Good luck :smileyhappy:

 

http://www.verizonwireless.com/b2c/globalText?textName=RETURN_POLICY&jspName=footer/returnPolicy.jsp

 

I hope this provides a little more clarity :smileyhappy:

 


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Message Edited by DarkCobra on 05-13-2009 11:35 PM
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Re: Security Deposit Question
Spanky
Contributor - Level 1
Bear in mind that receiving the money back is contingent upon establishing a good payment history with VZW.  They are in no way required to return the funds to you after 12 months, if you haven't proven that you deserve unsecured credit.  This means things like returned checks, stop payments, and past-due balances all play into the decision... The good news is that after 12 months, if your funds are not returned, they will begin to review your history every 90 days, in order to establish precedent to return your money.
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