SECP Urgent Notice for Barwaqt and UdharPaisa App Users in Pakistan 2026
The Securities and Exchange Commission of Pakistan (SECP) has issued an urgent public notice for users of Barwaqt and UdharPaisa loan applications. The notice focuses on repayment of outstanding digital loans after regulatory action and liquidation proceedings against the companies behind these apps. Many users in Pakistan still face issues in credit reports due to unpaid balances or disputed records, which affect access to bank loans, credit cards, and leasing services.
This article explains the SECP notice, repayment process, credit record updates, risks of unofficial payments, and steps users need to follow in 2026.
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SECP Notice for Digital Loan Apps in Pakistan
SECP regulates non-banking financial companies in Pakistan, including digital lending services. In this case, Barwaqt and UdharPaisa users have been informed that repayment must follow an official legal framework after regulatory action against the companies.
The notice highlights that:
- Loan recovery is now managed under liquidation supervision
- Only designated bank accounts are valid for repayment
- Credit bureau updates depend on verified payments
- Unauthorized agents have no legal authority
This structure aims to prevent misuse of borrower data and ensure proper settlement records.
Barwaqt Loan Settlement Process Explained
Borrowers using Barwaqt must follow an official repayment route to clear outstanding balances and improve their credit records.
The process generally includes:
- Checking outstanding loan details through credit reports
- Confirming dues with official liquidation records
- Depositing payment into the assigned bank account
- Keeping bank-stamped receipts for verification
After confirmation, records are updated in the credit databases used by banks in Pakistan.
Barwaqt loans that remain unsettled continue to appear as defaults, affecting eligibility for future financing.
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UdharPaisa App Loan Repayment Procedure
UdharPaisa users face a similar repayment structure under SECP supervision.
The required steps include:
- Reviewing personal credit history from authorized bureaus
- Matching outstanding loan figures with official records
- Depositing the amount into the approved bank account
- Submitting proof of payment when required
Once payment is verified, the record is forwarded for update in the credit systems. This process helps remove negative marks linked to unpaid digital loans.
Risks of Unauthorized Loan Recovery in Pakistan
A major concern for borrowers is the presence of fake agents and unofficial recovery claims. SECP has emphasized that only designated legal channels are valid.
Users should avoid:
- WhatsApp or social media recovery messages
- Private individuals claiming to “clear loans instantly.”
- Payment requests outside bank branches
- Extra service charges demanded by third parties
Such activities often lead to financial loss and do not update official credit records.
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Requirements for Loan Clearance
| Category | Requirement |
| Credit verification | Approved credit bureau report |
| Payment channel | Assigned bank account only |
| Receipt record | Bank-stamped deposit slip |
| Update process | Verified entry in credit system |
| Third-party agents | Not recognized |
This structure ensures transparency and prevents duplication or fraud in repayment records.
Impact on Credit History in Pakistan
Digital loan apps like Barwaqt and UdharPaisa are linked with national credit databases. Any unpaid balance can affect:
- Approval chances for personal loans
- Credit card issuance from banks
- Vehicle financing eligibility
- Mobile-based lending approvals in future systems
Clearing dues under the official process helps restore credit standing over time once records are updated.
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Frequently Asked Questions (FAQs)
1. Can I settle Barwaqt or UdharPaisa loans through mobile wallets?
No. Payments must be made through assigned bank accounts only.
2. How long does a credit record update take after payment?
It generally takes a few weeks after verification by the liquidation office.
3. Are private recovery agents authorized by SECP?
No. Only official liquidators and designated banks are legally allowed to process payments.
Conclusion
The SECP notice regarding Barwaqt and UdharPaisa users focuses on regulated repayment and accurate credit record management. Borrowers must rely only on official banking channels to settle outstanding loans and avoid unofficial recovery sources. Following the correct process ensures that credit history is updated properly and financial access through banks in Pakistan is not disrupted in the future.