My store handled it as a simple return. I got a 100% refund of the Note 7 and the taxes, and now I am on a s7 edge. I am on a new next plan with my s7 edge. I can keep it (umm...NO!) or I can refund it and get a new Note 7... at any time once they come back out. I know its a loaner phone... but in reality it is not. AT&T is simply waiving the return policy on the old Note 7 and the s7 Edge.
The advantages....1, I get my $25 bill credit (not sure how the loaner people will get their credit) 2, I have a new device, and qualify for another $10 samsung pay credit, 3 I am the proud owner or a s7 edge, purchased between 9/8 and sometime... so I submitted for my Gear VR for free (the current s7 promotion). At some point I will switch back to the Note 7.
I would bet the Gear VR (or 256gb memory card) promotion is a backdoor way for those of us staying with Samsung to get rewarded. You can't tell me they didn't know those of us who recall switched to the s7 would qualify. (
Samsung Promotions )