Chloe Meltzer
May 07, 2021
Summary: Are you stressed out over an old debt? It might be too late for the creditor to do anything about it. Learn about the statute of limitations and how to beat debt collectors in South Dakota.
Debt is a huge problem for consumers all over the United States. In South Dakota, this is no different. South Dakota consumers can easily fall prey to predatory lenders and debt collectors. This is why it is essential to know your rights in terms of debt collection and the statute of limitations.
The statute of limitations is a law that governs how long both creditors and debt collectors may pursue legal action against you. The statute of limitations varies from state to state but typically ranges anywhere from four to six years. Once the statute of limitations has passed, the debt is considered time-barred.
Make the right defense with SoloSuit and win in court.
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South Dakota Statute of Limitations |
|
|
Debt Type |
Deadline in Years |
|
Mortgage |
6 |
|
Medical |
6 |
|
Credit Card |
6 |
|
Auto Loan |
4 |
|
State Tax |
3 |
|
Source: Findlaw |
|
To understand if your debt has surpassed the statute of limitations, you will need to learn how old your debt is. If the South Dakota statute of limitations on your debt has passed or is close to expiring, this will impact how you decide to deal with your debt.
If you know that the statute of limitations is close to expiring, don't make a payment on your debt. This is because the statute of limitations starts from when you opened the account, or from the last payment you made on it.
If you have received frequent calls from a debt collector regarding a debt where you believe the statute of limitations has passed, remember that you can request this to stop. All you need to do is send a cease and desist letter to the debt collector. By requesting them to stop calling you, they must comply.
After the statute of limitations has expired you can no longer be sued and taken to court for your debt. Although you may not be taken to court for your debt after this time, your debt will not be erased once this time period has passed. Instead, debt collectors may continue to call you and report your delinquency to the credit bureau.
Suing you for debt after the statute of limitations has expired is a direct violation of the Federal Debt Consumer Protection Act. By understanding the statute of limitations on various types of debt, you can properly defend yourself against debt collectors.
Don't let debt collectors threaten you. Respond with SoloSuit.
The FDCPA governs how third-party debt collectors may pursue you for collections. There are a few rules that debt collectors must adhere to when contacting you for debt. Specifically, debt collectors must adhere to the following.
If a debt collector is attempting to contact you for debt, they may not speak to anyone about your debt outside of your attorney or spouse. This means that they may not leave messages in locations where other people may hear information regarding your debt. You should also not be contacted at work if the debt collector is aware that this is against the rules of your workplace.
The only way that a debt collector may contact other people in your life, is to find out your address, your home phone number, and where you work. Debt collectors are also prohibited from contacting third parties more than once.
If you request verification of your debt, they must provide you with this information. What is important to note is that you must send this letter within 20 to 30 days of receiving the original verification notice.
Stop contacting you after receiving a cease and desist letter: If you send the debt collector a letter stating that you do not owe money, and to stop contact, they must comply. Despite this, a collector can begin contacting you again if it sends you written verification of the debt.
If a debt collector oppresses or abuses you, it is a direct violation under the FDCPA. This includes:
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Debt collectors may not lie when they are trying to collect a debt. This includes:
These might include:
Debt collectors may not engage in unfair practices while attempting to collect a debt. This may include collecting interest or fees that you do not owe, depositing a post-dated check early, or threatening to take your property if they do not have that right.
Although the statute of limitations prevents you from going to court for debt, it does not mean that you no longer owe it. For some consumers, choosing not to repay expired debt is the best option.
Time-barred debt will always be considered an account in collections and will remain on your credit report for seven years from the first missed payment. This may continue to follow you in terms of making it difficult to obtain housing or other loans. Although this is a difficult decision to make, you need to make the best decision for you.
SoloSuit makes it easy to respond to a debt collection lawsuit.
How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
>>Read the NPR story on SoloSuit: A Student Solution To Give Utah Debtors A Fighting Chance
Here's a list of guides for other states.
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Need more info on statutes of limitations? Read our 50-state guide.
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