UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC 20549

                                   FORM 10-Q

[X] QUARTERLY REPORT PURSANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

    For the quarterly period ended March 31, 2011

Or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the transition period from                  to

Commission File Number: 000-54142

                              Credex Corporation
              (Exact name of registrant as specified in its charter)

             Florida                               16-1731286
      (State of Incorporation)              (IRS Employer ID Number)


                  454 Treemont Drive, Orange City, FL 32763
            (Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code (386) 218-6823

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. [ X ]yes [  ]no

Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S- T(232.405 of
this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). [ ] yes [ X ] no


                                       1

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company.

See the definitions of "large accelerated filer," "accelerated filer,"
"non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.

Large accelerated filer []                     Accelerated filer []
Non-accelerated filer []                       Smaller reporting company [X]
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). [X]yes [ ]no

              APPLICABLE TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                          DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. [ ] yes [ ] no

                      APPLICABLE ONLY TO CORPORATE ISSUERS:


Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date, April 29, 2011.

                                    5,899,250



                                       2

TABLE OF CONTENTS

Part I. Financial Information.......................................... 4

Item 1. Financial Statements........................................... 5


Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations.......................................... 15


Item 3. Quantitative and Qualitative Disclosures about Market Risk..... 18


Item 4. Controls and Procedures........................................ 18


Part II. Other Information............................................. 19


Item 1. Legal Proceedings.............................................. 19
Item 1A. Risk Factors.................................................. 19
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.... 19
Item 3. Defaults Upon Senior Securities................................ 21
Item 5. Other Information.............................................. 21
Item 6. Exhibits....................................................... 21


Signature.............................................................. 21


                                       3

PART I - FINANCIAL INFORMATION Item 1. Financial Statements.

INDEX TO FINANCIAL STATEMENTS                                           PAGE


Balance Sheets at March 31, 2011 (Unaudited) and December 31, 2010..... 5

Unaudited Statements of Operations for the three-month period ended
March 31, 2011 and 2010 and for the period from inception,
September 2, 2005, through March 31, 2011.............................. 6

Unaudited Statements of Stockholders' Equity for the period from
inception, September 2, 2005, through March 31, 2011................... 7

Unaudited Statements of Cash Flows for the three-month periods ended
March 31, 2011 and 2010 and for the period from inception,
September 2, 2005, through March 31, 2011.............................. 8

Notes to Financial Statements.......................................... 9




                                       4

                             Credex Corporation
                        (A Development Stage Company)
                                BALANCE SHEETS
             March 31, 2011, (Unaudited) and December 31, 2010

                                    ASSETS

                                                    March 31,     December 31,
                                                      2011             2010
                                                  ------------    ------------
                                                  (Unaudited)
CURRENT ASSETS:

Cash                                                $    54        $ 2,194
                                                   --------        --------
Total Assets                                        $    54        $ 2,194
                                                   ========        ========

                     LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
   Accounts payable                                 $ 9,405        $ 4,086
   Accrued interest payable                              60              0
   Notes payable                                      5,000              0
   Stockholder loans payable (see Note E)             2,700              0
                                                   --------       --------
       Total Current Liabilities                     17,165          4,086
                                                   --------       --------
STOCKHOLDERS' DEFICIT:
   Common stock, $0.001 par value;
     100,000,000 authorized shares, 5,899,250
     shares issued and outstanding at
     March 31, 2011, and December 31, 2010,
     respectively                                     5,899           5,899
   Additional paid in capital                       262,342         262,342
   Less unearned capital (see Note E)               (40,000)       (100,000)
   Accumulated deficit during the
     development stage                             (245,352)       (170,133)
                                                   --------        --------
        Total Stockholders' Deficit                 (17,111)         (1,892)
                                                   --------        --------
        Total Liabilities and Stockholders'
           Deficit                                  $    54        $ 2,194
                                                   ========        ========



    The accompanying notes are an integral part of these financial statements.


                                       5

                               Credex Corporation
                         (A Development Stage Company)
                       UNAUDITED STATEMENTS OF OPERATIONS
          For Periods from Inception [September 2, 2005] to March 31, 2011

                                              Three Months     Cumulative from
                                             Ended March 31       Inception to
                                           --------------------     March 31,
                                             2011        2010          2011
                                           --------    --------     ----------

REVENUE:

   Finance income                          $      0    $     0      $ 15,417
   Consulting income                              0          0         8,000
                                           ---------   --------     ----------
       Total Revenue                              0          0        23,417
                                           ---------   --------     ----------
EXPENSES:
   Travel                                         0          0         6,882
   Office expenses (see Note E)                 590        297         9,369
   Telephone (see Note E)                       165          0         2,909
   Professional fees (see Note E)            72,410      1,200       215,300
   Advertising                                    0          0           350
   Portfolio purchase                             0          0        21,000
   Seminar                                        0          0         1,585
   Stock transfer agent fees (see Note E)         0          0         5,500
   Rent (see Note E)                          1,994          0         5,847
                                           ---------   --------    ----------
       Total Expenses                        75,159      1,497       268,742
                                           ---------   --------    ----------
       Operating Loss                       (75,159)    (1,497)    (245,325)
                                           ---------    --------   ----------

OTHER INCOME (EXPENSES):
   Interest income                                0          0           33
   Interest expense                             (60)         0          (60)
                                           ---------   --------    ----------
        Total Other Income (Expenses)           (60)         0          (27)
                                           ---------   --------    ----------
   Net loss before income taxes             (75,219)    (1,497)    (245,352)

INCOME TAXES                                      0          0            0
                                           ---------   --------    ----------
   Net Loss                               $ (75,219)  $ (1,497)   $(245,352)
                                           =========   ========    ==========
Basic net loss per share                  $  (0.013)  $ (0.000)
                                           =========   ========
Weighted average number of shares
   outstanding (000's)                        5,899     3,605
                                           =========   ========


     The accompanying notes are an integral part of these financial statements.


                                       6

                               Credex Corporation
                         (A Development Stage Company)
                   STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
         For Periods from Inception [September 2, 2005] to March 31, 2011
<Table>
<Caption>
                                                                                                         Total
                                         Common Stock      Additional               Development   Stockholders'
                                     ----------------         Paid-in     Unearned        Stage         Equity
                                    Shares     Amount         Capital      Capital      Deficit       (Deficit)
                                   ---------   ------      ----------   ----------    ---------   ------------
<c>                               
         
          
          
           
         

September 2, 2005, Date of
   Incorporation                          0    $    0          $    0     $      0      $     0      $     0
Shares purchased for cash
   at $0.001 per share               10,000        10             990            0            0        1,000
Net loss for year ended
   December 31, 2005                      0         0               0            0       (8,397)      (8,397)
                                  ---------   -------        --------    ---------    ---------     --------
Balances - December 31, 2005         10,000        10             990            0       (8,397)      (7,397)
Net loss for year ended
   December 31, 2006                      0         0               0            0       (8,056)      (8,056)
                                  ---------   -------        --------    ---------    ---------     --------
Balances - December 31, 2006         10,000        10             990            0      (16,453)     (15,453)
Stockholder loan used
   to purchase shares at
   $0.0072 per share              2,490,000     2,490          15,441            0            0       17,931
Net loss for year ended
   December 31, 2007                      0         0               0            0       (2,087)      (2,087)
Balances - December 31,           ---------   -------        --------    ---------    ---------     --------
   2007                           2,500,000     2,500          16,431            0      (18,540)         391
Shares issued for cash
   at $0.02 per share               350,000       350           6,650            0            0        7,000
Net loss for year ended
   December 31, 2008                      0         0               0            0       (7,001)      (7,001)
Balances - December 31,           ---------   -------        --------    ---------    ---------     --------
   2008                           2,850,000     2,850          23,081            0      (25,541)         390
Shares issued for cash
   at $0.02 per share               715,500       715          13,595            0            0       14,310
Net loss for year ended
   December 31, 2009                      0         0               0            0      (15,015)     (15,015)
Balances - December 31,           ---------   -------        --------    ---------    ---------     --------
   2009                           3,565,500     3,565          36,676            0      (40,556)        (315)
Shares issued for cash
   at $0.02 per share               267,500       268           5,082            0            0        5,350
Shares issued for cash
   at $0.04 per share               566,250       566          22,084            0            0       22,650
Shares issued for future
   services at $0.113 per
   share                          1,500,000     1,500         198,500     (200,000)           0            0
Unearned capital amortized                0         0               0      100,000            0      100,000
Net loss for year ended
   December 31, 2010                      0         0               0            0     (129,577)    (129,577)
Balances - December 31,           ---------   -------        --------   ----------    ---------    ---------
   2010                           5,899,250     5,899         262,342     (100,000)    (170,133)      (1,892)
Unearned capital amortized
   (unaudited)                            0         0               0       60,000            0       60,000
Net loss for period ended
   March 31, 2011 (unaudited)             0         0               0            0      (75,219)     (75,219)
Balances - March 31,              ---------   -------        --------   ----------    ---------    ---------
   2011 (unaudited)               5,899,250    $5,899        $262,342    $ (40,000)   $(245,352)   $ (17,111)
                                  =========   =======        ========   ==========    =========    =========

                  The accompanying notes are an integral part of these financial statements.

</Table>

                                       7

                              Credex Corporation
                        (A Development Stage Company)
                     UNAUDITED STATEMENTS OF CASH FLOWS
         For Periods from Inception [September 2, 2005] to March 31, 2011

                                              Three Months      Cumulative from
                                             Ended March 31       Inception to
                                          --------------------      March 31,
                                            2011        2010          2011
                                          --------    --------     ----------

CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss                              $ (75,219)   $ (1,497)    $ (245,352)

Add non-cash expenses to Net Loss:
   Professional fees from consulting
   agreement (see Note E)                   60,000           0        160,000
Adjustments to reconcile net loss to
   net cash used by operations:
   Increase (decrease) in
      accounts payable                       5,319           0          9,405
   Increase (decrease) in
      accrued interest payable                  60           0             60
                                         ---------     -------      ---------
     Net Cash Used by
      Operating Activities                  (9,840)     (1,497)       (75,887)
                                         ---------     -------      ---------
CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds from note payable issued         5,000           0          5,000
   Proceeds from stockholder loans           2,700           0         49,528
   Repayment of stockholder loan                 0           0        (28,897)
   Sale of common stock                          0       2,850         50,310
                                         ---------     -------      ---------
   Net Cash Provided by
     Financing Activities                    7,700       2,850         75,941
                                         ---------     -------      ---------
   Net Increase (Decrease)
     in Cash                                (2,140)      1,353             54

   Cash and Equivalents,
     Beginning of Period                     2,194       2,185              0
                                         ---------     -------      ---------
   Cash and Equivalents,
   End of Period                         $      54     $ 3,538       $     54
                                         =========     =======      =========
SUPPLEMENTAL CASH FLOW INFORMATION:
   Cash paid for interest                $       0     $     0       $      0
                                         =========     =======      =========
   Cash paid for income taxes            $       0     $     0       $      0
                                         =========     =======      =========
SIGNIFICANT NON-CASH ACTIVITIES:
   Stockholder loan contributed
   to capital for common Stock           $       0     $     0       $ 17,931
                                         =========     =======      =========
Common stock issued as collateral
   for future services / additional
   capital not earned                    $       0     $     0       $200,000
                                         =========     =======      =========

    The accompanying notes are an integral part of these financial statements.


                                       8

                            Credex Corporation
                       (A Development Stage Company)
                       NOTES TO FINANCIAL STATEMENTS
            March 31, 2011, (Unaudited) and December 31, 2010

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.  Organization and Purpose

Credex Corporation, (the "Company") was incorporated in the State of Florida on
September 2, 2005.  The Company is presently engaged in market research
regarding the cost and availability of non- performing credit card portfolios
including current market prices for the sales of portfolios deemed
non-collectable at the time of sale.  The Company is exploring avenues for
raising capital in order to put its business plan into effect.  The Company has
a December 31 year-end.  The Company's principal office is in Orange City,
Florida.

2.  Basis of Presentation

The accompanying financial statements have been prepared in accordance with the
instructions to Form 10-Q and Article 10 of Regulation S-X, and, therefore, do
include all information and footnotes necessary for a complete presentation of
financial position, results of operations, cash flows, and stockholders' equity
in conformity with accounting principles generally accepted in the United States
of America.  In the opinion of management, all adjustments considered necessary
for a fair presentation of the results of operations and financial position have
been included and all such adjustments are of a normal recurring nature.

These financial statements should be read in conjunction with the audited
financial statements and notes thereto contained in the Company's Form 10-K
filed on March 16, 2011.  The results of operations for interim periods are not
necessarily indicative of the results to be expected for the full year.  Notes
to the financial statements, which would substantially duplicate the disclosure
contained in the audited financial statements for fiscal year 2010 as reported
in Form 10-K, have been omitted.

3.  Development Stage

The Company is currently a development stage entity as defined under accounting
standards, as it continues development activities related to non-performing
credit card portfolios.   As required for development stage enterprises, the
statements of operations, cash flows and changes in stockholders' equity
(deficit) are presented on a cumulative basis from inception.

                                       9

4.  Revenue Recognition

The Company recognizes revenue from purchased non-performing receivables in
accordance with accounting standards on the accounting for certain loans or
debt securities acquired in a transfer. The Company will use the cost recovery
method and recognize income only after it has recovered its carrying value of
purchased non-performing receivables. There can be no assurance as to when or
if the carrying value will be recovered. Recognition of income using the
interest method would be dependent on the Company having the ability to develop
reasonable expectations of both the timing and amount of cash flows to be
collected. Due to uncertainties related to the expected timing of the
collections of older non-performing receivables purchased as a result of the
economic environment and the lack of validation of certain account components,
the Company determined that it will not have the ability to develop reasonable
expectations of timing of cash flows to be collected.

5.  Cash and Equivalents

For purposes of the statement of cash flows, the Company considers all highly
liquid investments with original maturities of less than three months to be
cash equivalents.

6.  Financial Instruments

Financial instruments consist of bank deposits.  The carrying amount of
financial instruments approximates fair value due to short-term maturities and
market interest rates.

7.  Advertising

The Company expenses advertising and promotions costs as they are incurred.

8.  Concentrations of Credit Risk

The Company maintains its cash in a bank deposit account in a bank which
participates in the Federal Deposit Insurance Corporation (FDIC) Transaction
Account Guarantee Program, which provides separate FDIC coverage on the full
balance of personal and non-personal checking accounts, so long as they are not
interest-bearing. Under that program, through December 31, 2012, all
non-interest bearing accounts were fully guaranteed by the FDIC for the full
balance in the account.  Coverage is in addition to and separate from the
$250,000 coverage available under FDIC's general deposit insurance rules. After
December 31, 2013, balances up to $100,000 will be insured. As of
March 31, 2011 (unaudited) and December 31, 2010, the Company had no balances
in excess of federally insured limits.

                                       10

9.  Earnings per Share

Basic earnings per share is computed by dividing net income or loss available to
common stockholders by the weighted average number of common stock shares
outstanding during the year.  Diluted EPS is computed by dividing net income
available to common stockholders by the weighted average number of common stock
shares outstanding during the year plus potential dilutive instruments such as
stock options and warrants.  The Company has no dilutive instruments
outstanding.

10. Income Taxes

The Company follows Section 740-10-30 of the FASB Accounting Standards
Codification, which requires recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been included in
the financial statements or tax returns.

Under this method, deferred tax assets and liabilities are based on the
differences between the financial statement and tax bases of assets and
liabilities using enacted tax rates in effect for the year in which the
differences are expected to reverse.  Deferred tax assets are reduced by a
valuation allowance to the extent management concludes it is more likely than
not that the assets will not be realized.  Deferred tax assets and liabilities
are measured using enacted tax rates expected to apply to taxable income in the
years in which those temporary differences are expected to be recovered or
settled.  The effect on deferred tax assets and liabilities of a change in tax
rates is recognized in the Statements of Operations in the period that includes
the enactment date.

The Company follows section 740-10-25 of the Codification ("Section
740-10-25")  which  addresses  the  determination  of  whether  tax benefits
claimed or expected to be claimed on a tax return should be recorded in the
financial statements.  Under Section 740-10-25, the Company may recognize the
tax benefit from an uncertain tax position only if it is more likely than not
that the tax position will be sustained on examination by the taxing
authorities, based on the technical merits of the position.  The tax benefits
recognized in the financial statements from such a position should be measured
based on the largest benefit that has a greater than fifty percent (50%)
likelihood  of  being  realized  upon  ultimate  settlement. Section 740-10-25
also provides guidance on de-recognition, classification, interest and
penalties on income taxes, accounting in interim periods and requires increased
disclosures.  The Company had no material adjustments to its liabilities for
unrecognized income tax benefits according to the provisions of Section
740-10-25.

                                       11

11. Use of Estimates

The  preparation  of  financial  statements  in  conformity  with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period.  Actual results could differ from
those estimates.

NOTE B - STOCKHOLDERS' EQUITY (DEFICIT)

At inception on September 2, 2005, the Company was authorized to have
outstanding 10,000 shares of common stock at $0.10 par value per share. On
October 24, 2007, the Company amended its Articles of Incorporation to increase
the maximum number of authorized common shares to 100,000,000 and changed the
par value to $0.001 per share, which has been retro-actively restated to $0.001
 in the accompanying financial statements.

The Company has forty stockholders of record as of March 31, 2011 (unaudited)
and December 31, 2010.  As of March 31, 2011 (unaudited) and December 31, 2010,
the outstanding shares were 5,899,250.  Share transactions during the year
ended December 31, 2010, resulted in a increase in shares outstanding of
2,333,750 shares as follows:

     Shares issued for cash at $0.02 per share              267,500
     Shares issued for cash at $0.04 per share              566,250
     Shares issued to Cypress Bend Executive
        Services, LLC ("Cypress") for future services
        to be performed valued at $200,000 ($0.113 per
        share)                                            1,500,000
                                                          ---------
                                                          2,333,750
                                                          =========

Additionally, ownership of 694,445 shares was transferred from a past
officer/director to Cypress.  This former officer/director is a member of
Cypress.  Another past officer/director who is deceased passed to his heirs
1,705,555 shares of which his heirs transferred 764,180 shares to Cypress.  A
total of 2,958,625 shares have been transferred to Cypress under a consulting
management agreement with the Company.  Upon completion of its services, Cypress
is to be paid $200,000 by the Company at which time Cypress will return these
shares.  (Refer to Note E - Related Party)

NOTE C - INCOME TAXES

Deferred income taxes result from temporary differences between the basis of
assets and liabilities recognized for differences between the financial
statements and tax basis thereon, and for the expected

                                       12

future tax benefits to be derived from net operations losses and tax credit
carry-forwards. The Company has net operating losses and has recorded a
valuation allowance equal to the tax benefit of the accumulated net operating
losses, since it is uncertain that future taxable income will be realized during
the applicable carry-forward periods. These benefits expire between 2025 and
2030.

The Company's deferred tax assets were as follows:

                                                  March 31,     December 31,
                                                    2011            2010
                                                ------------    ------------
                                                (Unaudited)
    Deferred tax asset                          $  92,300        $  64,000
    Valuation allowance                           (92,300)         (64,000)
                                                ------------    ------------
        Net Deferred Tax Asset                  $       0        $       0
                                                ============    ============

NOTE D - GOING CONCERN

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. The Company's financial position and
operating results raise substantial doubt about its ability to continue as a
going concern.  As of March 31, 2011 (unaudited) and December 31, 2010, the
Company is in the development stage and has sustained losses of $245,352 and
$170,133, respectively, since inception which raises substantial doubt about
its ability to continue as a going concern.  The ability of the Company to
continue as a going concern is dependent upon expanding operations and obtaining
additional capital and financing. Management's plan in this regard is to
implement the Company's business plan and to secure additional funds through
equity or debt financing.  The financial statements do not include any
adjustments that might be necessary if the Company is unable to continue as a
going concern.

NOTE E - RELATED PARTY

A past shareholder of the Company had received fees for service in the year
ended December 31, 2010 in the amount of $2,400.

A shareholder of the Company, Globex Transfer, LLC, a stock transfer agent, has
been engaged in November 2010 to provide stock transfer services.  As of
December 31, 2010, $5,500 expenses were incurred with an outstanding balance
payable of $2,500.  As of March 31, 2011 (unaudited), this balance of $2,500
remains outstanding.

On July 9, 2010, the Company entered into a agreement for services with Cypress,
a related party, whereby Cypress acts as consultant to:

                                       13

1.  Raise the necessary money for the Company to operate in the short term,
2.  Prepare and file documents with the SEC to take the Company public,
3.  Secure a transfer agent and market maker broker-dealer for the
    Company's stock,
4.  Secure the necessary audits for the required filing documents, and
5.  Provide day-to-day operational management of the Company.

In exchange for these services, which the Company anticipates will last for a
ten month period, the Company agreed to pay Cypress cash fees of $200,000 as
well as provide Cypress with 2,958,625 shares of its stock, which effectively
transfers control of the Company to Cypress during this period.  Because the
consulting services began August 1, 2010, amortization into Professional Fee
was $60,000 in 2011 and $100,000 in 2010 resulting in net unearned capital of
$40,000 and $100,000 as of March 31, 2011 (unaudited) and December 31, 2010,
respectively.   Upon receipt of the cash payment of $200,000, Cypress is to
return the shares to the Company's treasury. [Refer to Note B - Stockholders'
Equity (Deficit)]  Also, as part of the contract with Cypress, the Company is
responsible for normal operating costs, which Cypress was providing.  As of
March 31, 2011 (unaudited), the costs in operations paid to Cypress amounted to
$4,798 [Office Expenses - $540; Professional Fees for secretarial costs -
$2,099; Rent - $1,994; and Telephone - $165].  As of December 31, 2010, the
costs in operations paid to Cypress amounted to $8,910 [Office Expenses -
$1,346; Professional Fees for secretarial costs - $3,818; Rent - $3,325; and
Telephone - $421].

On January 31, 2011, two shareholders of the Company loaned $2,000 for
additional funding to assist the Company in accomplishing its operating goals.
On March 21, 2011, another shareholder of the Company loaned $700 for additional
funding to assist the Company in accomplishing its operating goals.  All these
loans have twelve (12%) percent per annum interest rate with the loans payable
when funds are available.  As of March 31, 2011 (unaudited), accrued interest
on these loans amounted to $44.

NOTE F - FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (UNAUDITED)

The Company is current with its 1934 Act filings with the U.S. Securities and
Exchange Commission ("SEC").  There are no pending comments on these filings.
The Company filed an  S-1 (with amendments) Registration Statement pursuant to
the 1933 Act.  This registration became effective April 13, 2011.  The S-1
registered the 2,940,625 shares in the hands of current shareholders (except for
Cypress Bend's shares - refer to Note E - Related Party) for trading.

                                       14

NOTE G - NOTES PAYABLE (UNAUDITED)

On March 21, 2011, the Company received a loan of $5,000 for additional funding
to assist the Company in accomplishing its operating goals.  This note has
twelve (12%) percent per annum interest rate with the note payable when funds
are available.  As of March 31, 2011, accrued interest from this loan amounted
to $16.

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.

BACKGROUND

The following discussion of our financial condition and results of operations
should be read in conjunction with our financial statements and the related
notes, and other financial information contained in this prospectus.

Overview

We are a development stage company.  Although Credex has not operated pursuant
to its business plan, in 2005 Credex purchased a portfolio of defaulted credit
card debt to test the feasibility of its business plan. On a trial basis
accounts from the portfolio were collected. The remainder of the portfolio was
then sold. These transactions are shown in the statement of operations in
Item 1 of this quarterly report.  Our auditors have raised substantial doubt as
to our ability to continue as a going concern.  We need a minimum of
approximately $100,000 during the next 12 months to implement our business plan.

Since our inception, we have devoted our activities to the following:

     Purchasing a debt portfolio;
     Obtaining bids from professional collectors to collect the portfolio;
     Developing contacts from whom to purchase portfolios;
     Contracting for operational support; and
     Securing enough capital to carry out these activities.

Plan of Operations

As discussed above we have not operated pursuant to our business plan since
inception and have generated no revenue in the three months ended March 31, 2011
and 2010.

Development stage operating expenditures during the period from inception on
September 2, 2005 to March 31, 2011 were $268,742 which consisted primarily of
general and administrative expenses related to legal, accounting and other fees
related to our formation and this offering.  Our net loss was $75,159 and $1,497
for the three months

                                       15

ended March 31, 2011 and 2010, respectively, and $245,352 net loss from
inception through March 31, 2011.  The cumulative income to date was $23,450
including finance income of $15,417, consulting income of $8,000 and interest
income of $33. Liquidity and Capital Resources Our capital resources have been
acquired through the sale of shares of our common stock.

At March 31, 2011 and December 31, 2010, we had total assets of $54 and $2,194,
respectively, consisting of cash.

At March 31, 2011 and December 31, 2010, our total liabilities were $17,165 and
$4,086, respectively, consisting primarily of accounts payable and loans for
additional funding.

We anticipate taking the following actions during the next 12 months, assuming
we receive the required funding:

     Find and Lease a location for company offices
     Purchase office equipment
     Hire employees and begin training
     Begin Operations
     Start Marketing Phase Develop Sales Materials and Presentations.

Cash Requirements

We intend to provide funding for our activities, if any, through a combination
of the private placement of the Company's equity securities and the public sales
of equity securities.

We have no agreement, commitment or understanding to secure any funding from
any other source.

Off-Balance Sheet Arrangements

We do not have any off balance sheet arrangements.

Credex has never been in bankruptcy or receivership. The Company is a new
venture.

Credex's executive office is located at 454 Treemont Drive, Orange City,
FL 32763. The telephone number is (386) 218-6823, and the fax number is
(386) 218-6823.

Credex is not operating its business until such time as capital is raised for
operations.  To date its operation has involved only selling stock to meet
expenses.

To date its operation has involved only selling stock to meet expenses.


                                       16

Disclosure of Contracted Obligations

On July 9, 2010, the Company entered into a agreement for services with Cypress
Bend Executive Services, LLC ("Cypress"), a related party, whereby Cypress acts
as consultant to:

1. Raise the necessary money for the Company to operate in the short term,
2. Prepare and file documents with the SEC to take the
   Company public,
3. Secure a transfer agent and market maker broker-dealer
   for the Company's stock,
4. Secure the necessary audits for the required filing
   documents, and
5. Provide day-to-day operational management services to the Company.

In exchange for these services, which the Company anticipates will last for a
ten month period, the Company agreed to pay Cypress cash fees of $200,000 as
well as provide Cypress with 2,958,625 shares of its stock, which effectively
transfers control of the Company to Cypress during this period.  Also, as part
of the contract Steven G. Salmond, a member of Cypress Bend was installed
as Secretary, Treasurer, CFO and Director of Credex.  Because the consulting
services began August 1, 2010, amortization into Professional Fees was
$60,000 in 2011 and $100,000 in 2010 resulting in net unearned capital of
$40,000 and $100,000 as of March 31, 2011 and December 31, 2010, respectively.
Upon receipt of the cash payment of $200,000, Cypress is to return the shares
to the Company's treasury.

Proposed Business

The Company intends to purchase portfolios with all rights, title and interest
of non-performing accounts receivable (credit card debt) at deeply discounted
rates, (approximately 3% or less of face values), outsource the collection
process, develop a portfolio of restructured debt and sell the residual
portfolio.

Non-performing portfolios accumulate in the normal course of operations, when a
credit grantor from time to time charges-off from its books, accounts which are
delinquent.  Because the outstanding balance remains the obligation of the
defaulting customer, a group of charged-off accounts (a portfolio) contains a
value which can be obtained through various collection techniques.  This value
or yield is dependent upon several variables such as creditor standards,
geographical stratification of the portfolio, age of the charge-offs, stages of
internal and external collection efforts, elapsed time since collection was
last worked, elapsed time since last activity, past recovery obtained from
collection efforts and whether the debt is


                                       17

within the statute of limitations.  These portfolios may be acquired at
significant discounts of their face value, ranging from $0.01 to $0.07 on the
dollar, with an expected return of 10% to 12% of the face value of the
portfolios.  The Company intends to purchase portfolios of Primary, Secondary
and Tertiary distressed credit card debt from distressed debt wholesalers and
re-sellers because they offer smaller portfolios for sale and re-purchase. These
portfolios usually sell for $0.01 to $0.03 per dollar of face value. The prices
stated are for 2009.  On average, approximately $800,000 of face value defaulted
credit card debt can be purchased with $12,000.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Because the company is in the development stage and has no operations with
related markets, no market risks exist to be reported in this filing.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company is in the process of implementing disclosure controls and procedures
(as defined in Rules 13a-15(e) and  15d-15(e) of the Securities Exchange Act of
1934 (the "Exchange Act"), that are designed to ensure that information required
to be disclosed in the Company's Exchange Act reports are recorded, processed,
summarized, and reported within the time periods specified in rules and forms of
 the Securities and Exchange Commission, and that such information is
 accumulated and communicated to our Chief Executive and Financial Officers to
allow timely decisions regarding required disclosure.

As of March 31, 2011, the Chief Executive and Financial Officers carried out an
assessment of the effectiveness of the design and operation of our disclosure
controls and procedures and concluded that the Company's disclosure controls and
procedures were not effective as of March 31, 2011, because of material
weaknesses described below.

A material weakness is a deficiency, or a combination of deficiencies, in
 internal control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Company's annual or interim
financial statements will not be prevented or detected on a timely basis.

The material weaknesses identified during management's assessment was (1) lack
of a functioning audit committee due to a lack of a majority of independent
members and a lack of outside directors on our board of directors, resulting in
ineffective oversight in the establishment and monitoring of required internal
controls and procedures; (2) inadequate segregation of duties consistent with
control objectives; and (3) ineffective controls over period end financial
disclosure and reporting processes.


                                       18

These control deficiencies did not result in adjustments to the Company's
interim financial statements. However, these control deficiencies could result
in a material misstatement of significant accounts or disclosures that would
result in a material misstatement to the Company's interim or annual financial
statements that would not be prevented or detected. Accordingly, management has
determined that these control deficiencies constitute material weaknesses.

The Chief Executive and Financial Officers performed additional accounting and
financial analyses and other post-closing procedures including detailed
validation work with regard to balance sheet account balances, additional
analysis on income statement amounts and managerial review of all significant
account balances and disclosures in the Quarterly Report on Form 10-Q, to
ensure that the Company's Quarterly Report and the financial statements forming
part thereof are in accordance with accounting principles generally accepted in
the United States of America. Accordingly, management believes that the
financial statements included in this Quarterly Report fairly present, in all
material respects, the Company's financial condition, results of operations, and
cash flows for the periods presented.

Changes in Internal Control over Financial Reporting

During the three months ended March 31, 2011 there were no changes in our
system of internal controls over financial reporting.

PART II. OTHER INFORMATION Item 1.  Legal Proceedings.
Credex is not involved in any litigation or any material legal proceeding.  No
Officer or Director is involved in any litigation or any material legal
proceeding.

Item 1A. Risk Factors

None
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds. The
authorized equity of Credex Corporation consists of 100 million Shares, $.001
par value per share, of which 5,899,250 Shares are issued and outstanding to
officers and directors for cash and services rendered from inception
(September 2, 2005) through March 31, 2011.




                              [Intentionally left blank]




                                       19

Credex Corporation
Sale of Investment

Title of                Shares   Share    Amount
Stock       Date        Issued   Price     Paid   Subscribed  Services

Common    09/09/2005    10,000  $0.100   $1,000
Common    10/24/2007 2,240,000  $0.010  $16,131
Common    10/24/2007   250,000  $0.010   $1,800
Common    04/04/2008    50,000  $0.020   $1,000
Common    07/07/2008    25,000  $0.020     $500
Common    07/28/2008    25,000  $0.020     $500
Common    08/16/2008    15,000  $0.020     $300
Common    09/06/2008    50,000  $0.020   $1,000
Common    09/21/2008    10,000  $0.020     $200
Common    10/01/2008    10,000  $0.020     $200
Common    10/17/2008    15,000  $0.020     $300
Common    12/31/2008   150,000  $0.020   $3,000
Common    06/22/2009    10,000  $0.020     $200
Common    06/22/2009    10,000  $0.020     $200
Common    06/29/2009    50,000  $0.020   $1,000
Common    06/29/2009    50,000  $0.020   $1,000
Common    06/29/2009   100,000  $0.020   $2,000
Common    06/29/2009    50,000  $0.020   $1,000
Common    06/29/2009    50,000  $0.020   $1,000
Common    06/29/2009   100,000  $0.020   $2,000
Common    07/22/2009    10,000  $0.020     $200
Common    08/04/2009   100,000  $0.020   $2,000
Common    09/19/2009    10,000  $0.020     $200
Common    10/07/2009    10,000  $0.020     $200
Common    10/07/2009    50,000  $0.020   $1,000
Common    10/07/2009    50,000  $0.020   $1,000
Common    11/19/2009    45,500  $0.020     $910
Common    12/15/2009    20,000  $0.020     $400
Common    02/22/2010    30,000  $0.020     $600
Common    03/16/2010    12,500  $0.020     $250
Common    04/14/2010   100,000  $0.020   $2,000
Common    04/30/2010   125,000  $0.020   $2,500
Common    07/12/2010 1,500,000  $0.113       $0         $0   $200,000*
Common    08/30/2010    12,500  $0.040     $500
Common    08/30/2010    25,000  $0.040   $1,000
Common    08/23/2010   125,000  $0.040   $5,000
Common    09/03/2010    25,000  $0.040   $1,000
Common    09/03/2010    62,500  $0.040   $2,500
Common    09/03/2010    25,000  $0.040   $1,000
Common    09/03/2010    25,000  $0.040   $1,000
Common    09/03/2010    25,000  $0.040   $1,000
Common    10/05/2010    56,250  $0.040   $2,250
Common    10/05/2010    10,000  $0.040     $400
Common    11/04/2010   150,000  $0.040   $6,000
Common    11/05/2010    25,000  $0.040   $1,000

                     5,899,250          $68,241        $0    $200,000*




                                       20

*Stock issued as part of a service agreement for future services with Cypress
    Bend Executive Services, LLC. Refer to "Part I - Item 2: Disclosure of
    Contracted Obligations."

Such shares were issued pursuant to the exemption from registration contained
in Section 4(2) of the Securities Act or under regulation D rule 504.  All of
the purchasers were officers, directors or persons personally known to the
officers or directors.

Item 3.  Defaults Upon Senior Securities.
None

Item 5.  Other Information.
None

Item 6.  Exhibits.

Exhibit 3.(i) - Amended and Restated Articles of Incorporation
Exhibit 3.(ii)- Bylaws of Credex Corporation
Exhibit 31.1 - Certification of Chief Executive Officer of Credex Corporation
  required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of
  1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2 - Certification of Chief Financial Officer of Credex Corporation
  required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of
  1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.1 - Certification of Chief Executive Officer of Credex
  Corporation pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and
  Section 1350 of 18 U.S.C. 63.
Exhibit 32.2 - Certification of Chief Executive Officer of Credex
  Corporation pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and
  Section 1350 of 18 U.S.C. 63.


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Credex Corporation


By: _______________________________       Date:    May 9, 2011
    Denise Leonardo,
    Chief Executive Officer





                                       21