Updated on 3/26/2024
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in South Dakota. Below you will find the following information:
Lawsuit loan companies serving South Dakota
Below you will find a list of companies that provide funding in South Dakota. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding South Dakota residents
We recommend the following companies for plaintiffs residing in South Dakota.
Our pick for low rate lawsuit loans
USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Our pick for fast lawsuit settlement loans
Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.
See our full list of recommended companies here.
Lawsuit funding laws, regulation, and relevant ethics opinions in South Dakota
South Dakota common law indicates that champerty doctrines would likely be upheld – that means that lawsuit lending agreements could be challenged in court. There are no statutory laws regarding litigation funding and pre-settlement funding is not currently regulated as a loan in South Dakota. Despite the issues with SD common law, many funding companies still provide funding in the state.
Legal funding case law in South Dakota
Unruh Chiropractic Clinic v. De Smet Insurance Co., a chiropractor provided treatment on lien to two patients. Despite being notified of the lien, the insurance company paid out money to the patients without paying the chiropractor. Unruh sued and their case was dismissed on the grounds of common law maintenance and champerty.
Source: Unruh Chiropractic Clinic v. De Smet Insurance Co.
Can a lawyer lend money to a client in South Dakota?
It is not unethical for attorneys in New Hampshire to help clients get funding. They must however be aware of any potential risks.
Source: South Dakota Rules of Professional Conduct Rule 1.8(e)
Lawsuit loan alternatives in South Dakota
Lawsuit loans are expensive. Plaintiffs in South Dakota should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- South Dakota Medicaid – Medicaid is a federal program offering health insurance to needy individuals without alternative options. In South Dakota, eligibility depends on income and life circumstances.
- South Dakota Temporary Assistance For Needy Families (TANF) – Temporary Assistance for Needy Families (TANF) in South Dakota is a need-based program for families with minor children in need of support due to the death, absence, or disability of a parent or caretaker.
- SD Supplemental Nutrition Assistance Program (SNAP) – SNAP provides monthly stipends toward the purchase of food items in South Dakota for qualifying households.
- Rental Assistance – Rental assistance programs in South Dakota include Section 8 housing options, housing choice vouchers, USDA 345 rural development funding, and housing tax credits.