Correction: What Is Debt: Good Debt vs Bad Debt Explained (2)
Corrected by Emir Baycan · Full-Stack Developer, Mobile App Builder and Web Platform Founder with expertise in SEO, automation, SaaS, AI visibility, DevOps and scalable digital products
Emir Baycan found something wrong, outdated, or unsupported on this page and proposed a fix. The publisher accepted the correction.
- Role
- Correction
- Publisher
- When Notes Fly
- Topic
- Concepts
- Status
- Accepted
- Date
- 28 July 2026
The exact change
The article's minimum-payment table modeled a 2%-of-balance minimum but computed payoff times and interest as if payments were fixed, understating both by a large margin; it also cited Stewart's 2009 study to the wrong journal and gave a specific Experian auto-loan figure.
Recomputed the table under the stated 2%-declining-minimum model, fixed the Stewart citation, and qualified the Experian figure.
Suggested change
See before/after.
Why this is better
The table's own stated payment structure (2% of balance) did not match its computed outcomes, and one citation named the wrong journal. Corrections recompute the math and fix the citation rather than adding new sources.
How this record is verified
- The contribution is tied to a real, identified contributor, not an anonymous byline.
- It counts only because the publisher, When Notes Fly, accepted it. Self-claimed work earns nothing.
- It is recorded against a specific page and cannot be bought or edited after the fact.