Would it be possible to say that if you are looking to settle your IVA in the early days your IP who looks after you IVA will be loosing out i.e they won't be getting the charges as they would of over five years. Or does it not make any difference to them?
Their charges will be reduced as they won't be administering for the full term.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My IP fees were on a percentage basis, so they would receive 20% (+ VAT) of all money received.
On this basis a Full and Final settlement would not have lost them any money, although the extra administration work in putting the offer forward and calling the meeting of creditors would have cost them money.
Regardless of how the fees are affected the IP should put forward the variation if it is the right thing to do. Even if it means a reduction in fees it is still good to get a file closed, creditors paid and the client debt free.