Return to Receipt

Return to Case Docket

UNITED STATES BANKRUPTCY COURT

Middle District of Florida

Tampa DIVISION

IN RE:

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CASE NO: 00-50034

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GARY G. GRANT

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DEBTOR

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CHAPTER 7

MOTION OF ZERO MOTOR CREDIT COMPANY FOR RELIEF FROM AUTOMATIC STAY AGAINST PROPERTY OF THE ESTATE

This Motion for Relief from Automatic Stay Against Property of the Estate is filed by Zero MOTOR CREDIT CO. (Zero Credit) and represents to the Court as follows:

BACKGROUND

  1. The Debtor filed a Chapter 7 Voluntary Petition on May 4, 2000.
  2. On or about July 30, 1999, the Debtor executed and promised to pay, according to the terms thereof, one certain Retail Installment Contract in the original sum of $17,236.63 (total of 60 installment payments) ("Contract"), a true copy of which is attached hereto as Exhibit "A" and incorporated herein by reference for all purposes.
  3. In order to secure the payment of the Contract, the Debtor granted Zero Credit a purchase money security interest in a 1997 Zero EXPLORER, vehicle identification number 1fmcu22x5vud30641. Zero Credit properly perfected the security interest, as evidenced in a Florida Certificate of Title, number 31416539, a true copy of which is attached hereto as Exhibit "B" and incorporated herein by reference for all purposes.
  4. Debtor has defaulted in the payment of the Contract to Zero Credit. the indebtedness claimed to be due and owing to Zero Credit IS THE Present net balance due OF $16,958.28

RELIEF FROM THE AUTOMATIC STAY

  1. U. S. C. § 362(d) provides, in pertinent part, that the automatic stay imposed by §362 may be terminated, annulled, modified or conditioned for the following reasons:
  2. for cause, including the lack of adequate protection of an interest in property of such party in interest, or
  3. with respect to a stay of an act against property under subsection (a)of this section, if—
    • A. The Debtor does not have any equity in such property; and
    • B. such property is not necessary to an effective reorganization.