Can i pay off a phone that is in a device payment agreement and upgrade? (verizon)

HardwareLemon

Reputable
Oct 5, 2015
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Hello everybody i know i am probably in the wrong place but i have posted other questions on this website before and have gotten extremely quick responses on them. So i am on verizon and i have a samsung galaxy s5 on the Device Payment Plan and about $243 is left to pay on it. So anyways i was wondering if i pay off the remaining balance on the s5 can i start a new device payment plan and upgrade to the s7 edge. The thing i am not quite sure about is that my verizon app says my phone isn't eligible for an upgrade until 12/20/2016 however verizon faq says that you can pay off the remaning price of your smartphone at any time to complete your upgrade or "if your eligible" does that mean you have to wait a full 2 years before you can upgrade even if you have your device payed off? If you have the device payment plan i dont know if there is still a 2 year conract or an agreement you have to abide by or what? Or is my verizon just wrong and doesnt list the fact you can pay off the remainder of the device? Also i am on the More everything plan (10 gb unlimited talk and txt) and all of the phones are on the Device Payment Plan. I am also not the main person to this account my parents are and i am just looking to pay off my phone and pay for the new monthly payment for the s7 edge myself after i pay off the s5.

Any answers are greatly appreciated! - Thanks