If you're looking to break out of your contract with Verizon, better do it before next week, as the maximum penalty will be increased to $350. That goes down, of course, $10 for every month of the contract that you've already completed. Why the change in the early termination fee? A scam involving flipping BlackBerries for cash, prizes and small puppies, apparently. But, let's face it: If you're going to break a contract, chances are you're not going to care that much what it's gonna cost ya. [Boy Genius Report]

Wireless carriers are going to be taking it easier on its customers in the future as far as early terminations go. The major carriers will be making adjustments in how they charge you for fleeing off to competition and will be creating new reasonable Early Termination Fees (ETFs). I don’t think any fee is reasonable, but then again I don’t run a billion dollar company either.

Later this month AT&T will be adjusting their ETFs to ones that are progressively lowered on a month to moth basis. Apparently AT&T, Sprint and T-Mobile are all late to the party. Since late 2006, Verizon has been prorating bills and making their customers smile as they speed of to another carrier. Guess a little class action lawsuit here and a regulation there actually budge the big wigs. Or maybe it's simply everybody toeing the line proactively so the FCC doesn't butt in on the issue, something they're considering doing.

I think this is great and should have been like this since the start. Cell phone service should be paid monthly and rewarded the longer you stay with them, what with all the competition around. Contracts == hassles.

Here's a challenge for you - try starting up a new monthly-paid plan with a company without a contract -- tell them you have your own phone and so don't want to be under contract. Is such a thing even possible?