SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                 _______________
                                    FORM 10-K

                                 CURRENT REPORT

              Annual Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                   For the fiscal year ended December 31, 1999

                                    333-22327
                              (Commission File No.)


                      NATIONSCREDIT GRANTOR TRUST 1997 - 1
               (Exact name of registrant as specified in charter)

Delaware                                       75-2655744
(State  or  other  jurisdiction                (IRS  Employer
of  incorporation  or  organization)           Identification No.)

             225 E. John Carpenter Freeway, Irving Texas 75062-2731
             (Address of principal executive offices)    (Zip Code)

       Registrant's telephone number, including area code  (972) 506-5026

           Securities registered pursuant to section 12(g) of the Act:
                   6.75% Marine Receivable-Backed Certificates
                                (Title of Class)

     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  pas  90  days.
               (x)     yes                         (  )  no

Indicate  by  check mark if disclosure of delinquent filers pursuant to Item 405
of  Regulation  S-K  (229.405 of this chapter) is not contained herein, and will
not  be contained, to the best of registrant's knowledge, in definitive proxy or
information  statements  incorporated by reference in Part III of this Form 10-K
or  any  amendment  to  this  Form  10-K.  (x)



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                                     PART I
Item  1.  Business.

     The NationsCredit Grantor Trust 1997-1 (the "Trust") was formed pursuant to
a  Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated
as  of  April  30,  1997  among  NationsCredit  Securitization  Corporation (the
"Seller"),  NationsCredit  Distribution  Finance,  Inc.  (formerly  known  as
NationsCredit  Commercial  Corporation of America), as Servicer (the "Servicer")
and  Bankers  Trust  Company,  as  trustee  (the  "Trustee").  The  Trust's only
business  is  to act as a passive trust to permit investment in a pool of retail
installment  sales  contracts.

Item  2.  Properties.

     The  assets  of the Trust include a pool of marine retail installment sales
contracts (the "Receivables"), the security interests in the collateral securing
the  Receivables  and  certain other property more specifically set forth in the
Pooling  and  Servicing  Agreement.

Item  3.  Legal  Proceedings.

     There  are  no  pending  legal  proceedings  with  respect  to  the Trustee
involving  the  Trust,  Bankers  Trust  Company,  as  Trustee,  or NationsCredit
Distribution  Finance,  Inc.,  as  Servicer.

Item  4.  Submission  of  Matters  to  a  Vote  of  Security  Holders.

          None.

                                     PART II
Item  5.  Market for Registrant's Common Equity and Related Stockholder Matters.

          (a)     Market Information. There is no established public trading
                  market for the Certificates.
          (b)     Holders.  Since  each  of the Certificates was issued in book
                  entry form only, there is only one holder  of record of the
                  Certificates.  See Item 12 below.
          (c)     Dividends.  Not  applicable.


Item  9.  Changes  in  and  Disagreements  With  Accountants  on  Accounting and
          Financial  Disclosure.

          None.

                                    PART III

Item  12.  Security  Ownership  of  Certain  Beneficial  Owners  and Management.

     The  Certificates are represented by one or more certificates registered in
the name of Cede & Co., the nominee of  The Depository Trust Company ("DTC"). An
investor  holding  an  interest  in  the  Trust  is  not  entitled  to receive a
certificate  representing  such  interest  except  in  limited  circumstances.
Accordingly,  Cede & Co. is the sole holder of record of the Certificates, which
it  holds on behalf of brokers, dealers, banks and other participants in the DTC
system.  Such  participants  may hold certificates for their own accounts or for
the  accounts  of  their  customers.  The  address  of  Cede  &  Co.  is

                    Cede  &  Co.
                    c/o  The  Depository  Trust  Company
                    Attention:  Proxy  Department
                    Seven  Hanover  Square
                    New  York,  New  York  10004


                                     Page 2


Item  13.  Certain  Relationships  and  Related  Transactions.

           None.

                                     PART IV
Item  14.  Exhibits,  Financial  Statement  Schedules,  and  Reports on Form 8K.

            (a)
                  1.     Not  applicable.
                  2.     Not  applicable.
                  3.     Exhibits:
                         99.1     Annual  Statement  as  to  Compliance
                         99.2     Report  of  Independent  Accountants

            (b)     Reports  on  Form  8-K



          NationsCredit  Grantor Trust 1997-1 filed a Current Report on Form 8-K
pursuant  to  Items  5 and 7 for the following monthly distribution dates during
1999,  including  the  Servicer's  Certificate  for  each due period provided to
Bankers  Trust  Company,  as  Trustee.

                           Date of Reports on Form 8-K
                           ---------------------------
                                January 15, 1999
                                February 16, 1999
                                 March 15, 1999
                                 April 15, 1999
                                  May 17, 1999
                                  June 15, 1999
                                  July 15, 1999
                                 August 16, 1999
                               September 15, 1999
                                October 15, 1999
                                November 15, 1999
                                December 15, 1999

            (c)  The exhibits filed as a part of this report are listed in the
                 Index to Exhibits  on  Page  5

            (d)  Not  applicable.

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                                   SIGNATURES

     Pursuant  to  the  requirements  of  Section  13 or 15(d) of the Securities
Exchange  Act of 1934, as amended, the registrant has duly caused this report to
be  signed  on  its  behalf  by  the  undersigned,  thereunto  duly  authorized.

NATIONSCREDIT  GRANTOR  TRUST  1997  -  1  (Registrant)

By:  NationsCredit  Commercial  Corporation  of  America,  as  Servicer  of
NationsCredit  Grantor  Trust  1997  -  1

Date:  March  __,  2000        By  /s/  JILL  B.  STEWART
                                   ----------------------
                               Name:    Jill  B.  Stewart
                               Title:   Senior  Vice  President


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