Creditrust Corp. bought $546 million of charged-off credit card receivables from Commercial Financial Services of Tulsa, Okla., which filed for Chapter 11 bankruptcy protection in December.

The portfolio was the last remaining piece of Commercial Financial's card business. Creditrust paid $26.8 million in an auction by the bankruptcy court.

Creditrust said the accounts were originally bought by Commercial Financial Services late last year from 10 of the largest credit grantors, for about $60 million.

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