The Securities and Exchange Commission of Pakistan (SECP) has issued an urgent public notice regarding the settlement of outstanding debts for users of the Barwaqt and UdharPaisa loan apps. Following a significant legal crackdown, these apps are now under court-supervised liquidation.
If you are one of the thousands of borrowers who have been unable to clear your record or are facing blacklisting on your credit history, this guide explains the official, court-mandated process to settle your loans and restore your financial standing.
Why is SECP Taking Action?
Under the orders of the Islamabad High Court (dated December 24, 2025), M/s. Microcred Financial Services Limited (UdharPaisa) and M/s. Seedcred Financial Services Limited (Barwaqt) are being liquidated. Advocate Syed Ishfaq Hussain Shah has been appointed as the Official Liquidator to manage all recoveries.
This is a critical development for those seeking financial relief, similar to how families look for BISP payment solutions when facing blocked accounts or verification issues.
SECP Notice for Barwaqt and UdharPaisa Loan App Users: Official Repayment Guide 2026
How to Settle Your UdharPaisa Loan
Borrowers who used the UdharPaisa app must follow these exact steps to ensure their payment is recognized by the court:
- Check Your Credit Report: Obtain your latest reports from Tasdeeq Information Services or DataCheck Limited.
- Verify the Amount: Identify the highest outstanding balance reported.
- Physical Bank Deposit: You must visit a branch of Bank Makramah Limited. Digital transfers (EasyPaisa, JazzCash, or App transfers) are strictly prohibited.
Official Bank Details for UdharPaisa:
- Account Title: M/s. Microcred Financial Services Limited (In Liquidation)
- Account Number: 0418586002000323
- IBAN: PK48BMLP0418586002000323
How to Settle Your Barwaqt Loan
For Barwaqt app users, the process is nearly identical but uses a separate designated account:
- Obtain Credit Reports: Confirm your debt status via Tasdeeq or DataCheck.
- Payment Method: Payments are only accepted via physical deposit slips at Bank Makramah Limited.
- Required Information: Ensure your CNIC, Name, and “Purpose of Payment” are clearly written on the deposit slip.
Official Bank Details for Barwaqt:
- Account Title: M/s. Seedcred Financial Services Limited (In Liquidation)
- Account Number: 0418586002000321
- IBAN: PK05BMLP0418586002000321
Restoring Your Credit History (Important Step)
Simply paying the money is not enough. To clear your name from the defaulter list, you must provide proof to the liquidator:
- Email Documents: Send a copy of your CNIC, the stamped bank deposit receipt, and your credit reports to the relevant email:
- For UdharPaisa: liquidatormicrocred@gmail.com
- For Barwaqt: liquidatorseedcred@gmail.com
- Timeline: Once verified, the Official Liquidator will update the credit bureaus within four weeks.
This process of verification and record updating is as vital as ensuring your NADRA CNIC records are updated to remain eligible for government assistance programs.
Warning: Avoid Scams and Third Parties
The SECP has explicitly stated that no individual, agent, or third-party app is authorized to collect these payments. If someone calls you claiming to be from Barwaqt or UdharPaisa asking for a transfer to a personal mobile wallet, it is a scam.
Only payments made to the Bank Makramah Limited accounts listed above will result in a legal settlement and credit clearance.
Stay Informed on Financial Aid
While settling these private loans is essential for your credit score, many citizens are also looking for legitimate government support. If you are struggling with financial stability, stay updated on the latest BISP registration news and eligibility criteria to ensure you are receiving all the benefits you are entitled to.
For further assistance with government schemes or resolving digital payment issues, visit our Contact Us page for expert guidance.