South Dakota Debt Relief

South Dakota Credit Card Debt law provides creditors with 6 years to file suit over debt, including unpaid Credit Card Debt. This time limit is called a Statute of Limitations (SOL) and starts from the day of the first missed payment. If the debtor makes any partial payments after that date, the SOL begins again from the payment date. A summons should be answered by certified mail within 30 days or face default judgment for the creditor.

Judgment Enforcement

In South Dakota, judgments are enforceable for up to 20 years and accrue yearly interest at a rate of 10%. A judgment can be docketed by the Clerk of the Court to be made a lien against the debtor’s real property, but debtors may protect the property through declaring homestead. Small amounts of personal property may also be exempted from levy under state law.

Creditors may also attach the debtor’s wages. Such garnishments are limited to 20% of the debtor’s disposable earnings per workweek. Unlike many other states, there are no additional exemptions allowed for heads of household or those receiving any type of disability benefits.

Debt Settlement

Because the state laws only protect the debtor’s home, many consumers will choose Debt Settlement rather than allow the court to enter a judgment against them. By arranging for an interest free payment plan, consumers can protect their earnings and have some say in how much they pay against the debt each week. Debt Settlement can also help consumers stay out of bankruptcy.