South Dakota Laws on Wage Garnishments, Statute of Limitations on Debt, and Bankruptcy Property Exemptions

WAGE GARNISHMENT EXEMPTIONS:  20% of the individuals disposable earnings for a 60 day period

MAXIMUM INTEREST RATE:  Legal: 12%  Judgment: 10%


Open Account (credit card):  6 years
Written Contract: 6 years
Domestic Judgment: 20 years
Foreign Judgment: 10 years

BAD CHECK LAW DAMAGES:  None specified


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]

Debt Statutes  > South Dakota
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]