Why did you form Veradan?
How does Veradan work?
Our core feature is a simple way to freeze and thaw your credit with all of the credit reporting agencies at the same time. Freezing your credit has been free to all Americans since the Fair Credit Reporting Act of 2018, and is the best way to proactively protect yourself against identity theft. However, for it to be effective you must work with each of the credit reporting agencies individually. This takes a lot of time today. We use modern automation techniques to help you do this with the press of a button. It’s that simple.
What kind of protection do you provide against identity theft?
We help make it difficult to use any stolen information against you. We can’t stop your data from being stolen when careless website administrators misconfigure their servers or when advanced persistent threats decide to target you personally. We can and do help you set up credit freezes across all of the credit agencies. Freezes are the best way to proactively protect yourself against identity theft because they make it difficult for thieves to use any stolen data to open new accounts, or make significant changes to your existing ones.
This new protection is above and beyond the liability protection you already have through your existing financial institutions against fraudulent charges on your credit cards and bank accounts.
What is a credit freeze?
According to the FTC, "Also known as a security freeze, this free tool lets you restrict access to your credit report, which in turn makes it more difficult for identity thieves to open new accounts in your name. That’s because most creditors need to see your credit report before they approve a new account. If they can’t see your report, they may not extend the credit."
Learn more at the FTC website: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs
What does freezing my credit do to my credit score?
Freezing your credit will only help your credit score. Your credit score will be protected from any negative outcomes associated with identity theft. There are no adverse credit effects to freezing your credit. It's the law.
Can I still use my money and existing credit cards with frozen credit?
Of course! All of your existing accounts will work as if there wasn't a freeze. An active credit freeze only stops new accounts from being created in your name. And it's easy to temporarily thaw your credit when you need a new card, Mortgage, personal loan, or any other kind of new credit.
Can I still unfreeze and freeze my credit without the help of your service?
Absolutely. You'll already have all the information you need on your device.
How is this different from legacy identity monitoring?
Speaking in terms of protecting your home, you can think of Veradan as a ring of keys for a lock and traditional identity monitoring a set of cameras and motion sensors. They are complimentary services. Legacy identity monitoring is valuable because it lets you know that someone has started using your identity to commit fraud or disparage your good name, and provides resources to help you in the event of compromise. Veradan helps you access an additional layer of always-on protection, so that any monkey business is stopped before anything can even show up in monitoring
How do I know you take data protection seriously?
We take data protection seriously because it’s just the right thing to do. Our mission is to provide protection to our users, and data protection is the foundation of identity protection. We created this system because we think every person should be better protected.
We encrypt your data client side. This means only you have access to your data. Even our administrators don’t even have access to your sensitive data except if you were to explicitly authorize us (e.g. when you needed assistance with a problem.)
If all of that isn’t enough, we want you to know that we are users of the system. We trust in our system to protect our own data, and the data of our families.
Why do you need my information?
We only ask you for the minimum set of information that is required by the credit reporting agencies.
Who is eligible?
You must be over 18 with a US social security number.
If the service is free, how will you make money?
We offer great deals on credit products when you're ready to shop for them. We also provide enhanced services and support to paid members.
I've been the victim of a data breach, do I need this protection?
The unfortunate reality is that for most of us, it’s likely a matter of when, not if, someone will try and steal our identities. Veradan enables the best available protection forever, at no cost to you.