Creditrust Corp., which buys delinquent credit card accounts from banks and tries to collect the debts, plans to issue credit cards of its own through a bank it has agreed to buy.

Creditrust says it will pay $2.3 million in cash for the banking subsidiary of United Companies Financial Corp., the subprime mortgage lender. United Cos. filed Chapter 11 in March and has been selling noncore businesses to raise money to pay creditors.

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