I think we need to help Lindsay. First, she needs to check her credit report to be sure there are no errors. Maybe someone else is charging thousands on her credit cards?
Next, she needs some advice on how to get out of credit card debt. She can start with Bankrate's calculator that shows how long it will take to pay off the cards if she only pays the minimum. Unfortunately, the calculator won't calculate a debt of more than $100,000. But paying only the minimum -- which on $100K equals $2,000 a month -- it will take her 89 years to pay it down to zero.
She could talk to her credit card issuers about working out a payment plan, but these days card issuers are concerned about their risk -- and she's probably not a good credit risk.
Unlike the rest of us, a celebrity like Lohan might make a hit movie or have a hit record and earn enough money to wipe out her debt. You and I have to pay our debts every month ... keeping our debt-to-income ratio in mind.
Have you gotten out of credit card debt? Want to share your secrets with Lindsay?