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                                                                    EXHIBIT 23.1
    

   
INDEPENDENT AUDITORS' CONSENT
    

   
We consent to the incorporation by reference of our opinion dated February 29,
1996 appearing in this Annual Report on Form 10-K/A-1 of United Companies
Financial Corporation for the year ended December 31, 1995 in the following:
Registration Statement No. 33-15326 on Form S-8 pertaining to the United
Companies Financial Corporation 1986 Employee Incentive Stock Option Plan,
Registration Statement No. 33-17366 on Form S-8 pertaining to the United
Companies Financial Corporation Employees' Savings Plan and Trust, Registration
Statement No. 33-29994 on Form S-8 pertaining to the 1989 Stock Incentive Plan
and the 1989 Non-Employee Director Stock Option Plan, Registration Statement
No. 33-54955 on Form S-8 pertaining to the 1993 Stock Incentive Plan and the
1993 Non-Employee Director Stock Option Plan, Registration Statement No.
33-68626 on Form S-3 pertaining to the registration of 1,951,204 shares of
United Companies Financial Corporation Common Stock, Registration Statement No.
33-60367 on Form S-3 pertaining to the registration of $200 million of United
Companies Financial Corporation Debt Securities and Preferred Stock, and
Registration Statement No. 33-52739 on Form S-3 pertaining to the registration
of 200,000 shares of United Companies Financial Corporation Common Stock and
Registration Statement No. 33-63069 on Form S-8 pertaining to the United
Companies Financial Corporation Management Incentive Plan.
    

   
DELOITTE & TOUCHE LLP
    

   
Baton Rouge, Louisiana
April 26, 1996
    




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