Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
WAGE GARNISHMENT EXEMPTIONS: 20% of the individuals disposable earnings for a 60 day period MAXIMUM INTEREST RATE: Legal: 12% Judgment: 10% STATUTE OF LIMITATIONS FOR ENFORCEMENT: Open Account (credit card): 6 years Written Contract: 6 years Domestic Judgment: 20 years Foreign Judgment: 10 years BAD CHECK LAW DAMAGES: None specified BANKRUPTCY PROPERTY EXEMPTIONS (South Dakota Codified Laws) Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions The State of South Dakota has exempted the property and income below from seizure by the bankruptcy court to pay unsecured creditors: Real Property: Real property or mobile home, unlimited value, cannot exceed one acre in town or city or 160 acres elsewhere (proceeds from sale up to $30,000 are exempt for one year, but unlimited if over the age of 70 or an unmarried widow / widower) [43-31-1 through 43-31-4] Personal Property: Books and bible up to $200, food and fuel for one year, burial plot, church pew, clothing, unlimited amount of each [43-45-2]; any head of household can also claim any personal property up to $6,000 [43-45-4 and 43-45-5]; non-heads of household can also claim any personal property up to $4,000 [43-45-4] Insurance / Annuities: Endowment or life insurance policy, cash value or proceeds, up to $20,000 [58-12-4]; annuity contract proceeds up to $250 per month [58-12-6 and 58-12-8]; fraternal society benefits, unlimited amount [58-37A-18]; health benefits up to $20,000 [58-12-4]; life insurance proceeds up to $10,000 if beneficiary is spouse or child [43-45-6]; life insurance proceeds if held by insurance company and policy proceeds cannot be used to pay off creditors [58-15-70] Pensions / Retirement Plans: Public employees, unlimited amount [3-12-115]; city employees, unlimited amount [9-16-47] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [61-6-28]; workers' compensation, unlimited amount [62-4-42]; aid to families with dependent children, unlimited amount [28-7A-18] Wages: Wages earned up to 60 days prior to filing bankruptcy, amount needed for support [15-20-12]; prisoner's wages, unlimited amount [24-8-10] Miscellaneous: Business partnership property, unlimited amount [48-4-14] |
Debt > State Statutes > South Dakota |
Debt > State Statutes > South Dakota |
Wage Garnishments and Bankruptcy Exemptions -- South Dakota |
WAGE GARNISHMENT EXEMPTIONS: 20% of the individuals disposable earnings for a 60 day period MAXIMUM INTEREST RATE: Legal: 12% Judgment: 10% STATUTE OF LIMITATIONS FOR ENFORCEMENT: Open Account (credit card): 6 years Written Contract: 6 years Domestic Judgment: 20 years Foreign Judgment: 10 years BAD CHECK LAW DAMAGES: None specified BANKRUPTCY PROPERTY EXEMPTIONS (South Dakota Codified Laws) Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions The State of South Dakota has exempted the property and income below from seizure by the bankruptcy court to pay unsecured creditors: Real Property: Real property or mobile home, unlimited value, cannot exceed one acre in town or city or 160 acres elsewhere (proceeds from sale up to $30,000 are exempt for one year, but unlimited if over the age of 70 or an unmarried widow / widower) [43-31-1 through 43-31-4] Personal Property: Books and bible up to $200, food and fuel for one year, burial plot, church pew, clothing, unlimited amount of each [43-45-2]; any head of household can also claim any personal property up to $6,000 [43-45-4 and 43-45-5]; non-heads of household can also claim any personal property up to $4,000 [43-45-4] Insurance / Annuities: Endowment or life insurance policy, cash value or proceeds, up to $20,000 [58-12-4]; annuity contract proceeds up to $250 per month [58-12-6 and 58-12-8]; fraternal society benefits, unlimited amount [58-37A-18]; health benefits up to $20,000 [58-12-4]; life insurance proceeds up to $10,000 if beneficiary is spouse or child [43-45-6]; life insurance proceeds if held by insurance company and policy proceeds cannot be used to pay off creditors [58-15-70] Pensions / Retirement Plans: Public employees, unlimited amount [3-12-115]; city employees, unlimited amount [9-16-47] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [61-6-28]; workers' compensation, unlimited amount [62-4-42]; aid to families with dependent children, unlimited amount [28-7A-18] Wages: Wages earned up to 60 days prior to filing bankruptcy, amount needed for support [15-20-12]; prisoner's wages, unlimited amount [24-8-10] Miscellaneous: Business partnership property, unlimited amount [48-4-14] |
Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly payments by $200+ |
