A SIVA or Simplified Individual Voluntary Arrangement or SIVA is basically a new form IVA which is a method of clearing debt without being declared bankrupt. 

An IVA is only available for people with debts over £13,000, but is generally used when debt levels are higher which can often in the range of £60-70,000.

A SIVA is it can be organised for lower debt amounts and be set up quickly so that get control of your finances sooner rather than later.

SIVAs will be available in the latter part of 2008.