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If you have friends who want you to sign them up on your family plan to take advantage of cell phone deals, here are a few warnings. Going into a cell phone contract with a friend has serious implications for you, the person signing the contract.
1. You are signing the contract in your name, so you will have to pay the early termination fees if the contract is broken.
2. If your friends does not pay their portion of the cell phone calling plan bill, service to your phone and the friend's phone could be terminated, leaving you without cell phone access.
3. Any negative credit consequences are reflected on your credit, not the friend's credit rating.
Many people are better off searching for cell phone deals on their own rather than relying on the help of a friend. The family cell phone deal works best when it's literally kept "in the family."
|Sheri Ann Richerson|