Dina Lohan Files for Bankruptcy, Drowning in Over $1 Million of Debt

Dina Lohan is finally waving the white flag in her ongoing financial turmoil and is officially declaring bankruptcy.

According to documents, obtained by The Blast, Lindsay Lohan's mom claims to be over $1.7 million in debt, with the majority of that wrapped up in her home in Merrick, NY.

Lohan owes another $4,600 in California state taxes, and $9,000 to the state of New York. She also owes another $10,000 to Honda, and lists her Victoria's Secret credit card as a revolving account, but doesn't know how much she owes on it.

The Blast broke the story, Lohan's home actually fell into foreclosure back in April after falling seriously behind on mortgage payments. At the time, she owed the bank over $1 million on the home, so it was only a matter of time before the mounting financial pressure led to her filing for bankruptcy.

Along with her taxes and lingerie spending, Lohan lists $10,000 to her kid's former private school, St. Anthony High School.