Good luck, but I believe you will have to bite the bullet and pay it.
This sucks. I guess I have learned a $500 lesson. I don't want to take a chance on hurting my credit, especially since I am just about to leave college and enter the work force.
I will be getting rid of my cell phone in September, when my contract ends. I will also let Verizon know why I did this, and I will make it a point to discourage anyone from signing up for that piece of crap of a company.