1

                                                                      EXHIBIT 15


United Companies Financial Corporation:

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 September 30, 1996 and 1995, as
indicated in our report dated November 8, 1996; because we did not perform an
audit, we expressed no opinion on that information.

We are aware that our report referred to above, which is included in your
Quarterly Report on Form 10-Q for the quarter ended September 30, 1996, is
being incorporated by reference in the following:  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, 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.

We also are aware that the aforementioned report, pursuant to Rule 436(c) under
the Securities Act of 1933, is 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 the Act.


/s/ DELOITTE & TOUCHE LLP

Baton Rouge, Louisiana
November 12, 1996





                                       22