Dissolve Debt
Debt Advice since 2004
Call For Debt Advice
0800 0122 111
From A Mobile Call
0161 926 7670


SIVA (Simple Individual Voluntary Agreement)

  • The Government are planning to introduce these by mid 2007.
  • They will offer a simple alternative to IVAs.
  • This should make the IVA system more accessible to the public.

What is a SIVA?

Due to increasing levels of debt in the UK there has been a dramatic rise in the numbers of people applying for IVAs. This has led the government to review the system nationally. Simple Individual Voluntary Arrangements or SIVAs are planned for 2007 and are intended to simplify the whole IVA process.

Currently an IVA can be agreed if it is approved by creditors representing 75% of the debt amount, under the SIVA scheme this would be reduced to 51% for applicants who owe in excess of £25,000. In addition a simpler IVA application process and contract will be implemented. This should ultimately help more people become debt free as quickly and easily as possible.