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Yes you can do so. If your bill has went to a third party collection agency, I suggest that you actually process the payment in the Verizon Wireless retail store with a representative. The payment will be made to the collector over the phone and then your representative will have to call his in house recovery team. They will then contact the collector for confirmation it has been paid. Once that has been done, the blocks placed stopping you from activating new service will be lifted and you can start a new account. This does not however mean that you will have no deposit for your line(s) of service. There is a possibility (and a strong one at that) of a $125 deposit per line or even a $400. It will pull from your credit report but the within company credit may not help.