How the HELL is there NOT A HELL. Yes, pun intended.
Alright, in Judaism it doesn't really matter what you believe in. If you live a good life, you'll be sent to Gehenna and judged. A "soul forge" if you will (Good lord, this is sounding like World of Warcraft...), that purifies the soul for your ascent into heaven.
In Christianity, Islam, and Baha'i... You're fucked. The pit of fire? Yeah. I could talk about how heaven is hotter than hell, but... this is it anyway.
Even if it's not eternal torment, it's eternal separation, which apparently is worse. Although, if the world was separated from God I think it'd be a pretty damn good place.