{"id":27010,"date":"2026-04-25T17:30:56","date_gmt":"2026-04-25T17:30:56","guid":{"rendered":"https:\/\/didebta.com\/?p=27010"},"modified":"2026-04-25T17:30:57","modified_gmt":"2026-04-25T17:30:57","slug":"the-personal-loan-explained-ramsey","status":"publish","type":"post","link":"https:\/\/didebta.com\/?p=27010","title":{"rendered":"The Personal Loan Explained – Ramsey"},"content":{"rendered":"
\n

It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the kids are screaming, and you\u2019re sweating from more than just the heat. So, you race down to your local credit union and borrow the money to cover the repair. And that\u2019s when things get personal . . . in the form of a personal loan. Personal loans are a quick way to borrow money from a bank and other financial institutions\u2014but you have to pay the money back (plus interest) over time. \u00a0<\/p>\n

Sure, personal loans may\u00a0seem<\/em>\u00a0like a great option when you\u2019re in a tight spot and need some quick cash to tide you over. But like all debt, personal loans\u00a0always<\/em>\u00a0cost you\u2014often, more than just in your wallet.<\/p>\n

Let\u2019s dive into what a personal loan actually is (and what it\u2019s not), the reasons people use them, and how you can cover those crazy emergency expenses\u00a0without<\/em>\u00a0taking on the burden of debt.<\/p>\n

What Is a Personal Loan?<\/h2>\n

A personal loan is a lump sum of money you can borrow for . . . well, almost anything. People take out personal loans for everything<\/em>: from paying for a wedding or building a swimming pool to buying a new washing machine or even a new HVAC system\u2014aka\u00a0personal\u00a0<\/em>reasons.<\/em><\/p>\n

That doesn\u2019t include borrowing $1,000 from your Uncle John to help you pay for Christmas presents or letting your roommate spot you for a couple months\u2019 rent. You shouldn\u2019t do either of those things (for a number of reasons), but that\u2019s technically<\/em> not a personal loan.<\/p>\n

Personal loans are made through an actual financial institution\u2014like a bank, credit union or online lender. And just like there are\u00a0different types of debt, there are also different types of personal loans out there. Let\u2019s take a look at each so you can know exactly how they work\u2014and why you don\u2019t need one. Ever.<\/p>\n

Types of Personal Loans<\/h2>\n

Unsecured Personal Loans<\/h3>\n

Most personal loans are unsecured, which means there\u2019s no collateral (something to back the loan, like a car or house).\u00a0Unsecured loans\u00a0typically have higher interest rates and require a better credit score because there\u2019s no physical item the lender can take away if you don\u2019t pay up. And to be honest, we aren\u2019t fans of the ole\u00a0credit score. Shocked? That\u2019s okay. No matter how good your credit is, you\u2019ll still have to pay interest on most personal loans. There\u2019s\u00a0always<\/em>\u00a0a price to pay for borrowing money.<\/p>\n

Secured Personal Loans<\/h3>\n

Secured personal loans, on the other hand, have some sort of collateral to \u201csecure\u201d the loan, like a boat, jewelry or RV\u2014just to name a few. But if you don\u2019t pay on time, the repo man will come take what\u2019s now theirs.<\/p>\n

You could also take out a secured personal loan using your car as collateral. But that\u2019s a dangerous move! You don\u2019t want your main mode of transportation to and from work getting repo\u2019ed because you\u2019re still paying for last year\u2019s kitchen remodel. Trust us, there\u2019s nothing<\/em> secure about secured loans.<\/p>\n

Fixed-Rate Personal Loans<\/h3>\n

Most personal loans are fixed-rate, which means the interest rate and your monthly payment don\u2019t change. But just because the payments are predictable, it doesn\u2019t mean this is a good deal. Like we said before, you\u2019re pretty much guaranteed to pay interest on a personal loan.<\/p>\n

Just do the math: You\u2019ll end up paying way<\/em> more in the long run by taking out a loan than if you\u2019d just paid with cash. Fixed-rate loans are just part of a fixed system to keep you buried in debt.<\/p>\n

Variable-Rate Personal Loans<\/h3>\n

Also called adjustable-rate, variable-rate loans have interest rates that can change. You might be drawn in by the deceptively low rate and tell yourself you\u2019ll pay off the loan quickly, but that number can balloon\u2014and\u00a0fast<\/em>.<\/p>\n

It\u2019s easier than you think to get stuck with a higher interest rate and monthly payments you can\u2019t afford. This is what we call an old-fashioned bait and switch. And you\u2019re the fish hanging on a line.<\/p>\n

Installment Loans<\/h3>\n

An installment loan is a personal loan you pay back in fixed installments over time (usually once a month) until it\u2019s paid in full. And don\u2019t miss this: You have to pay back the original loan amount before you can borrow anything else. And even if you pay on schedule, you\u2019re still paying interest.<\/p>\n

Plus, if you suddenly fall behind because you lost your job, had an emergency, or overspent one month, you\u2019re looking at even more<\/em> interest added to your tab. Talk about making a hard situation even harder!<\/p>\n

Personal Lines of Credit<\/h3>\n

Some lenders offer personal lines of credit. Instead of getting the full amount up front, you take out small amounts of the loan as needed. You still have a preapproved credit limit and you still have to repay what you borrow in monthly payments.<\/p>\n

But don\u2019t be mistaken: This isn\u2019t the same as a credit card. With personal lines of credit, you\u2019re paying interest on the loan\u2014even if you pay on time. This kind of loan is super tricky because it makes you think you\u2019re managing your debt, when really, it\u2019s managing you<\/em>.<\/p>\n

Payday Loans<\/h3>\n

Payday loans. Ugh. This one gets us riled up. Why? Because these businesses prey on people who can\u2019t pay their bills. And that\u2019s just\u00a0wrong<\/em>. Technically, these are short-term loans that give you your paycheck in advance. That may sound hopeful when you\u2019re in a financial wreck and\u00a0need<\/em>\u00a0some money to cover your bills. But payday loans are\u00a0straight-up scams! They have\u00a0insane<\/em>\u00a0interest rates (391% on average!) and usually target people in lower-income areas by not doing credit checks.1<\/sup><\/p>\n

Once you get involved with payday loans, it\u2019s extremely<\/em> hard to get out. So, unless you like people stealing from you (and keeping you stuck in the cycle of debt), steer clear of those blood-sucking payday lenders!<\/p>\n

Cosigned Loans<\/h3>\n

If a lender decides you don\u2019t have a good enough income or credit history to get approved for a personal loan, they can require you to have a cosigner (someone with better credit who can take on the loan if you can\u2019t pay).<\/p>\n

But\u00a0you should\u00a0never<\/em>\u00a0cosign a loan. Why? Because things get real messy real fast when you miss a payment. Those creditors will come after your sweet grandmother who cosigned the loan for you. Oh, and you should never cosign a loan for anyone else either! Not only could you get stuck with a loan that was never meant to be yours in the first place, but it\u2019ll ruin the relationship before you can say \u201cpay up.\u201d Trust us, you don\u2019t want to be on either side of this sticky situation.<\/p>\n

Reasons People Take Out Personal Loans<\/h2>\n

Reason 1: They want to consolidate their debt.<\/h3>\n

Truth: A lower interest rate won\u2019t<\/em> get rid of your debt.<\/h4>\n

When faced with a 17% interest rate on your credit card and a whopping 25% interest rate on an auto loan, a 9% interest rate for a personal loan can be pretty tempting. But all you\u2019re really doing is using new debt to pay off old debt (and extending your loan term). That just means you\u2019ll be paying even more<\/em> over time. Companies know that too\u2014which is exactly why so many of them offer you consolidation loans.<\/p>\n

A lower interest rate doesn\u2019t get you out of debt\u2014you<\/em>\u00a0do. Personal finance is 80% behavior and only 20% head knowledge. That means unless you\u2019re willing to do what it takes to pay off your debt, taking out a personal loan to\u00a0consolidate your debt\u00a0won\u2019t solve your problem.<\/p>\n

Reason 2: They want to build up their credit.<\/h3>\n

Truth: You don\u2019t need a credit score to be successful. \u00a0<\/h4>\n

In a world where people treat good credit like Willy Wonka\u2019s golden ticket, it\u2019s easy to believe you need to take out personal loans to build up your\u00a0FICO score. But good credit is an oxymoron. You only get a good credit score by borrowing money\u2014a lot<\/em> of money.<\/p>\n

Around here, we call it the \u201cI love debt score.\u201d Why? Because you take on a ton of debt and risk, just for the \u201cprivilege\u201d of going into even more debt. The system is rigged!<\/p>\n

Don\u2019t worry, there\u2019s good news: You don\u2019t have to play. Believe it or not,\u00a0you can survive (and thrive!) without a credit score. And it starts with not borrowing any more money . . . ever.<\/p>\n

Reason 3: They don\u2019t have the money to pay up front.<\/h3>\n

Truth: If you can\u2019t afford it, don\u2019t go into debt for it.<\/h4>\n

This is a good rule of thumb for any<\/em> financial purchase. Whether you\u2019re thinking of taking out a personal loan to cover that kitchen remodel or your overwhelming credit card bills . . . \u00a0don\u2019t. Taking out debt to pay for things isn\u2019t the way to go. Sure, it might be a quick fix for right now<\/em>, but it will have you stuck in debt for years<\/em> to come.<\/p>\n

The best thing you can do for your financial future is get out of that\u00a0buy-now-pay-later\u00a0mindset and say no to those spending impulses. And if you\u2019re considering a personal loan to cover an emergency, we get it. But borrowing money to pay for an emergency only escalates the stress and hardship of the situation. This is where an emergency fund comes into play. When you have money socked away just for emergencies, you won\u2019t have to worry when the dishwasher breaks down or the basement floods. Why? Because you\u2019ve already got it covered.<\/p>\n

Should You Get a Personal Loan?<\/h2>\n

Absolutely not. Personal loans are just not worth the stress and financial burden they bring to you and your family. Period. We know it may seem like taking out a loan will help you get ahead or even just offer some relief in the middle of a crisis. But trust us, they only leave you stuck in more<\/em> debt and financial stress when it\u2019s all said and done.<\/p>\n

Taking out a personal loan is like trying to stop your boat from sinking by scooping out water with a bucket full of holes. It\u2019s a lot of work\u2014that just gets you nowhere.<\/p>\n

The weight of personal loans (plus interest) keeps you from making real progress with your money. If you\u2019re too busy paying for the past, there\u2019s no room to invest in your future. Who wants to spend the rest of their life dragging around debt? It\u2019s time to say \u201cno more\u201d to personal loans so you can actually start winning with your money!<\/p>\n

Alternatives to Taking Out a Personal Loan<\/h2>\n

It\u2019s one thing to say no to big expenses (like vacations), but what if you rely on personal loans to pay bills and buy food? Even if you don\u2019t have a ton of money coming in every month, how you manage the money you do\u00a0<\/em><\/em>have makes all the difference.<\/p>\n

That\u2019s why taking out a personal loan is more harmful than it is helpful. Use these alternatives to help you steer clear of taking on more debt when you\u2019re in a bind:<\/p>\n

Get on a budget.<\/h3>\n

A\u00a0budget\u00a0tells your money where to go before you ever spend it. That way you can be confident your necessities are taken care of. No need to take out a personal loan when you\u2019ve budgeted for your expenses. In fact, EveryDollar helps you create a zero-based budget (where your income minus expenses equals zero). This means you\u2019ve given every single dollar a job to do . . . putting you back in the driver\u2019s seat of your finances\u2014where you belong. Doing a regular budget will give you the confidence you need to manage your money successfully.<\/p>\n

Save up for what you want.<\/h3>\n

Good things come to those who wait . . . and save! Instead of taking out a personal loan every time you want something, what if you saved up for it instead? It will definitely require some planning and discipline to put money aside every single month. But saving up for the big things means you\u2019re not going into debt for them. And you aren\u2019t paying more in the long run because of all that interest.<\/p>\n

Trust us, you\u2019ll enjoy that family cruise or playground set for the kids way more knowing it\u2019s already paid for (instead of making payments on them until they\u2019re off to college). Ouch.<\/p>\n

Build up an emergency fund.<\/h3>\n

Life happens. And sometimes it can get really expensive. The car breaks down, the roof needs to be replaced, the pipes burst . . . all things you can\u2019t control. But you can control how you respond to those life emergencies. Instead of running to get a personal loan to take care of it, you need to build up an emergency fund. That\u2019s where the Baby Steps come in. Step one? You guessed it: Save $1,000 for a starter emergency fund.<\/p>\n

Sure, $1,000 doesn\u2019t seem like much in the face of an emergency, but it does provide peace of mind when things hit the fan. As you continue following the Baby Steps, you\u2019ll eventually grow that fund to three to six months of expenses. And it\u2019s worth all the hard work it takes to get there. Nothing beats peace of mind (without debt of course)!<\/p>\n

Get Serious About Paying Off Your Debt<\/h2>\n

Debt is a trickster. It reels you in only to hang on for dear life like a crusty old barnacle. But you don\u2019t have to turn to personal loans and debt when things get tight. There\u2019s a better way! You\u00a0can\u00a0<\/em>be free of debt and start making real traction with your money. It starts with knocking out your debt\u2014once and for all!<\/p>\n

If you\u2019re ready to take control of your money (without loans), it\u2019s time to get on a plan. Financial Peace University\u00a0<\/em>(FPU)\u00a0is the plan that will show you how to save for emergencies (so you never have to take out a personal loan again), pay off debt, and build wealth for your future. The best part? Accountability. You can choose to take this course with others learning how to win with money\u2014just like you. And when you\u2019ve got people cheering for you every step of the way, you won\u2019t want to look back. Sign up for FPU and end the cycle of debt for good!<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the kids are screaming, and you\u2019re sweating from more than just the heat. So, you race down to your local credit union and borrow the money to cover<\/p>\n","protected":false},"author":1,"featured_media":27011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":{"0":"post-27010","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nThe Personal Loan Explained - Ramsey | Didebta<\/title>\n<meta name=\"description\" content=\"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/didebta.com\/?p=27010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Personal Loan Explained - Ramsey | Didebta\" \/>\n<meta property=\"og:description\" content=\"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/didebta.com\/?p=27010\" \/>\n<meta property=\"og:site_name\" content=\"Didebta\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-25T17:30:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-25T17:30:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/didebta.com\/?p=27010#article\",\"isPartOf\":{\"@id\":\"https:\/\/didebta.com\/?p=27010\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/didebta.com\/#\/schema\/person\/1d68332532577889b0f653a8233c8e1d\"},\"headline\":\"The Personal Loan Explained – Ramsey\",\"datePublished\":\"2026-04-25T17:30:56+00:00\",\"dateModified\":\"2026-04-25T17:30:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/didebta.com\/?p=27010\"},\"wordCount\":2501,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/didebta.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/didebta.com\/?p=27010#primaryimage\"},\"thumbnailUrl\":\"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/didebta.com\/?p=27010#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/didebta.com\/?p=27010\",\"url\":\"https:\/\/didebta.com\/?p=27010\",\"name\":\"The Personal Loan Explained - Ramsey | Didebta\",\"isPartOf\":{\"@id\":\"https:\/\/didebta.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/didebta.com\/?p=27010#primaryimage\"},\"image\":{\"@id\":\"https:\/\/didebta.com\/?p=27010#primaryimage\"},\"thumbnailUrl\":\"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg\",\"datePublished\":\"2026-04-25T17:30:56+00:00\",\"dateModified\":\"2026-04-25T17:30:57+00:00\",\"description\":\"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the\",\"breadcrumb\":{\"@id\":\"https:\/\/didebta.com\/?p=27010#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/didebta.com\/?p=27010\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/didebta.com\/?p=27010#primaryimage\",\"url\":\"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg\",\"contentUrl\":\"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/didebta.com\/?p=27010#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/didebta.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Personal Loan Explained – Ramsey\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/didebta.com\/#website\",\"url\":\"https:\/\/didebta.com\/\",\"name\":\"Didebta\",\"description\":\"Latest Personal Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/didebta.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/didebta.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/didebta.com\/#organization\",\"name\":\"Didebta\",\"url\":\"https:\/\/didebta.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/didebta.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/d-icon.png\",\"contentUrl\":\"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/d-icon.png\",\"width\":512,\"height\":512,\"caption\":\"Didebta\"},\"image\":{\"@id\":\"https:\/\/didebta.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/didebta.com\/#\/schema\/person\/1d68332532577889b0f653a8233c8e1d\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/didebta.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/avatar_user_1_1710355201-96x96.png\",\"contentUrl\":\"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/avatar_user_1_1710355201-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/didebta.com\"],\"url\":\"https:\/\/didebta.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Personal Loan Explained - Ramsey | Didebta","description":"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/didebta.com\/?p=27010","og_locale":"en_US","og_type":"article","og_title":"The Personal Loan Explained - Ramsey | Didebta","og_description":"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the","og_url":"https:\/\/didebta.com\/?p=27010","og_site_name":"Didebta","article_published_time":"2026-04-25T17:30:56+00:00","article_modified_time":"2026-04-25T17:30:57+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/didebta.com\/?p=27010#article","isPartOf":{"@id":"https:\/\/didebta.com\/?p=27010"},"author":{"name":"News Room","@id":"https:\/\/didebta.com\/#\/schema\/person\/1d68332532577889b0f653a8233c8e1d"},"headline":"The Personal Loan Explained – Ramsey","datePublished":"2026-04-25T17:30:56+00:00","dateModified":"2026-04-25T17:30:57+00:00","mainEntityOfPage":{"@id":"https:\/\/didebta.com\/?p=27010"},"wordCount":2501,"commentCount":0,"publisher":{"@id":"https:\/\/didebta.com\/#organization"},"image":{"@id":"https:\/\/didebta.com\/?p=27010#primaryimage"},"thumbnailUrl":"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/didebta.com\/?p=27010#respond"]}]},{"@type":"WebPage","@id":"https:\/\/didebta.com\/?p=27010","url":"https:\/\/didebta.com\/?p=27010","name":"The Personal Loan Explained - Ramsey | Didebta","isPartOf":{"@id":"https:\/\/didebta.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/didebta.com\/?p=27010#primaryimage"},"image":{"@id":"https:\/\/didebta.com\/?p=27010#primaryimage"},"thumbnailUrl":"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg","datePublished":"2026-04-25T17:30:56+00:00","dateModified":"2026-04-25T17:30:57+00:00","description":"It\u2019s the middle of summer, and your AC suddenly goes out. You don\u2019t have a couple thousand dollars to get it fixed, but the temperature is rising, the","breadcrumb":{"@id":"https:\/\/didebta.com\/?p=27010#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/didebta.com\/?p=27010"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/didebta.com\/?p=27010#primaryimage","url":"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg","contentUrl":"https:\/\/didebta.com\/wp-content\/uploads\/2026\/04\/personal-loans-explained.jpeg","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/didebta.com\/?p=27010#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/didebta.com\/"},{"@type":"ListItem","position":2,"name":"The Personal Loan Explained – Ramsey"}]},{"@type":"WebSite","@id":"https:\/\/didebta.com\/#website","url":"https:\/\/didebta.com\/","name":"Didebta","description":"Latest Personal Finance News and Updates","publisher":{"@id":"https:\/\/didebta.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/didebta.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/didebta.com\/#organization","name":"Didebta","url":"https:\/\/didebta.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/didebta.com\/#\/schema\/logo\/image\/","url":"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/d-icon.png","contentUrl":"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/d-icon.png","width":512,"height":512,"caption":"Didebta"},"image":{"@id":"https:\/\/didebta.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/didebta.com\/#\/schema\/person\/1d68332532577889b0f653a8233c8e1d","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/didebta.com\/#\/schema\/person\/image\/","url":"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/avatar_user_1_1710355201-96x96.png","contentUrl":"https:\/\/didebta.com\/wp-content\/uploads\/2024\/03\/avatar_user_1_1710355201-96x96.png","caption":"News Room"},"sameAs":["https:\/\/didebta.com"],"url":"https:\/\/didebta.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/posts\/27010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/didebta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27010"}],"version-history":[{"count":1,"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/posts\/27010\/revisions"}],"predecessor-version":[{"id":27012,"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/posts\/27010\/revisions\/27012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/didebta.com\/index.php?rest_route=\/wp\/v2\/media\/27011"}],"wp:attachment":[{"href":"https:\/\/didebta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/didebta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/didebta.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}