I made a verbal contract with a company say I would buy there product for two years. I was unaware that once I bought the product and did not wish to pay for anymore that I could not back out of the contract. I never signed a real contract nor have I even seen the agreement. I no longer wish to pay for there product now, but they say I made a contract agreement over the phone so I can't brake the contract that I have to keep paying them. Do I have to keep paying them even though I agree to a contract that I've never seen or signed?

If they can prove you entered into an agreement with them, then yes you are bound to it.

What if it was just over the phone agreement.. no paper work??

That's the definition of a verbal agreement. And I bet they have recordings or other evidence.

Where you live may make a differnce, in some US states, any verbal contract has to be completed within one year. So you could be obligated to no more than one year.

Was this stated in the phone , verbal agreement that you were obligated for a certain amount of time.