Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question How do personal loans work? Is it possible to get one even if you don't own a home or really have any equity? Just looking for a way to consolidate my debt without having to go to one of those sketchy 800# places. Looking for some real answers here, I have no idea how any of this financial stuff works. Thanks in advance! By Sandra C Posted on 10/04/06 Total Answers 2 Answers- Your best bet would be to join a credit union. This is how I established credit. Take a $500 loan out and pay it off within 12 months. That will establish credit for you. Then you will be able [at any time] to borrow money on a signature line of credit or personal line of credit. Answer by : MyBestFriend On Date 2006-10-04 13:51:56 Yes, you can get a personal loan even though you don't own a home or have any equity. You can apply for an unsecured loan at your bank/credit union for the purpose of consolidating your debt. Because its unsecured, expect to have a little bit of a higher rate, as opposed to a secured loan (house as collateral, etc). As with all loans, your credit score is incredibly important. Answer by : AG On Date 2006-10-04 13:53:05   Go Back To Search Results