South Dakota Credit Laws

Judgments bear interest at the rate of 12%. There is no other usury limit. There are certain limitations on consumer loans below $ 5,000.00.

Open Acct: 6 - Sale of Goods 4 - Written Contract 6 - Domestic Judgment 10 renewable for 10 - Foreign Judgment 10

20% of the individuals disposable earnings for a continuing lien

In South Dakota is $30,000. For persons age 70 and above the homestead was previously unlimited, but the unlimited exemption was ruled unconstitutional. A new statute, effective July 1, 2005, sets the cap for seniors at $170,000.

The laws or regulations of this state are silent in addressing whether collection agencies may add interest, fees or collection charges.