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                                                                    EXHIBIT 15.1





September 27, 1995

United Companies Financial Corporation
4041 Essen Lane
Baton Rouge, Louisiana

We have made a review, in accordance with standards established by the American
Institute of Certified Public Accountants, of the unaudited interim
consolidated financial information of United Companies Financial Corporation
and subsidiaries for the periods ended March 31, 1995 and 1994 and June 30,
1995 and 1994, as indicated in the reports dated May 12, 1995 and August 4,
1995; because we did not perform an audit, we expressed no opinion on that
information.

We are aware that our reports referred to above, which were included in your
Quarterly Reports on Form 10-Q for the quarters ended March 31, 1995 and June
30, 1995, are being used in this Registration Statement.

We also are aware that the aforementioned reports, pursuant to Rule 436(c)
under the Securities Act of 1933, are not considered a part of the Registration
Statement prepared or certified by an accountant or a report prepared or
certified by an accountant within the meaning of Sections 7 and 11 of that Act.


/s/ DELOITTE & TOUCHE LLP
Baton Rouge, Louisiana