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JeffL65's profile

New Member

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2 Messages

Tue, Aug 2, 2022 12:35 AM

Cancelling line with installment plan remaining

My daughter's new iPhone 13 Pro was stolen.  We got the new phone by trading in her old iPhone X and got either $700 or $800 for the tradein, can't remember exact amount.  The iPhone 13 Pro is about a month old.  If I cancel the line I understand I owe the remainder of the installment plan.  If the phone was purchased through tradein, can I just pay the difference of the tradein vs cost of phone?  AT&T credits you on your bill each month but would rather not pay for extra line that's not needed and pay the installment plan (minus tradein credit) each month for remaining three years.  Thanks you!

Accepted Solution

Official Solution

dwill05

ACE - Master

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7.2K Messages

4 months ago

You only get credits as long as you pay the bill every month.  Cancel the line and stop paying the bill, and you lose any credits you haven’t gotten yet.  The payoff of the phone will be whatever you haven’t paid yet.  For example, if you have a 36 month installment, and have paid only 1 month of installments, your payoff will be 35/36 of the price of the phone.  You lose those 35 future monthly credits, and can’t deduct them from the price of the phone.

Sorry the phone got stolen, but you still owe what’s due on it.  If you had insurance on the phone, you can get an insurance replacement, but you would still owe the remaining balance.

New Member

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2 Messages

4 months ago

Thank you, dwill05.  That's what I thought but thought I'd confirm.

ACE - Sage

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101.8K Messages

4 months ago

Just go to Apple and purchase a replacement device. Then go to AT&T and have them make a new SIM card for her existing phone number. You will continue to receive both the installment charges and the credits for the trade-in phone.

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