SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



        DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 11, 2001




                      NATIONSCREDIT GRANTOR TRUST 1997 - 1
                      ------------------------------------
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)




DELAWARE               333-22327             75-2655744
- --------               ---------             ----------
(STATE  OR  OTHER      (COMMISSION  FILE     (IRS  EMPLOYER
JURISDICTION  OF       NUMBER)               IDENTIFICATION  NUMBER)
INCORPORATION)


                             1355 WINDWARD CONCOURSE
                            ALPHARETTA GEORGIA 30005

                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
                    ----------------------------------------


       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE  (678) 339-9343
  NOT APPLICABLE (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT.)


ITEM  5.     OTHER  EVENTS
             -------------

     THIS  CURRENT  REPORT  ON  FORM  8-K  IS  BEING FILED TO FILE A COPY OF THE
CERTIFICATEHOLDERS STATEMENTS RELATING TO THE COLLECTION PERIOD ENDING MARCH 31,
2001.

     CAPITALIZED  TERMS  NOT  DEFINED  HEREIN  HAVE THE MEANINGS ASSIGNED IN THE
POOLING  AND  SERVICING  AGREEMENT  (WITH STANDARD TERMS AND CONDITIONS ATTACHED
THERETO)  DATED  AS  OF  APRIL  30,  1997  AMONG  NATIONSCREDIT  SECURITIZATION
CORPORATION,  NATIONSCREDIT  COMMERCIAL CORPORATION OF AMERICA AND BANKERS TRUST
COMPANY,  AS  TRUSTEE,  WHICH  WAS PREVIOUSLY FILED AS AN EXHIBIT TO THE CURRENT
REPORT  ON  FORM  8-K  FILED  ON BEHALF OF THE TRUST BY NATIONSCREDIT COMMERCIAL
CORPORATION  OF  AMERICA  ON  JUNE  4,  1997.


ITEM  7.          FINANCIAL  STATEMENTS,  PRO  FORMA  FINANCIAL  INFORMATION AND
                  --------------------------------------------------------------
                  EXHIBITS.
                  --------

(C)     EXHIBITS

 EXHIBIT  NO.

     19.1                               CERTIFICATEHOLDERS  STATEMENTS

                                   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.


                      NATIONSCREDIT GRANTOR TRUST 1997 - 1
                      ------------------------------------
                                  (REGISTRANT)


              BY:  NATIONSCREDIT COMMERCIAL CORPORATION OF AMERICA,
               AS SERVICER OF NATIONSCREDIT GRANTOR TRUST 1997 - 1



Date:  April  11,  2001                         BY:  /S/  KEVIN  CHURCH
       ----------------                              ------------------
                                                NAME:     KEVIN  CHURCH
                                                TITLE:    VICE  PRESIDENT


                                  EXHIBIT INDEX
                                  -------------



EXHIBIT
NUMBER               DESCRIPTION
- ------               -----------

     19.1                    CERTIFICATEHOLDERS  STATEMENTS