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As new CRTC regulations come into effect next month, for the first time millions of mobile customers will be released from their contracts at once.

“We may hear some really good deals and then the question comes – do you stick with the company you know or are you willing to go someplace else?” Marvin Ryder of the DeGroote school of business says when consumer’s are surveyed about their service providers – most people would rather go with smaller service providers but they don’t necessarily offer the same features as Bell, Rogers and Telus.

He says even though there will be no more penalties, you still may need to pay up if you want out of your three year contract. For example, you may be able to get out of your contract, but you would still have to pay off the remaining balance on the phone.