Aiful, Japanese consumer finance company has taken consent of its creditors for delaying its debt repayments.

Repayment of 290 billion yen worth of loan is now being delayed after the company met its 65 creditors. All lending companies, including Aiful, is at this position because of the strict lending regulations of 2006.

There are some more problems waiting for the company which will worsen the situation, the limits put to the consumer borrowings is also another rule which will make it tough for the company.

Shares in the company jumped almost 9% on the news.

50% of the company’s workforce has also taken early retirement scheme which will help it save 13 billion yen annually.