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                                                                    EXHIBIT 23.3
 
                         INDEPENDENT AUDITORS' CONSENT
 
     We consent to the incorporation by reference in this Registration Statement
of United Companies Financial Corporation on Form S-3 of our report dated
February 29, 1996 (July 24, 1996 as to Notes 3, 4, 6 and 11) (which expresses an
unqualified opinion and includes an explanatory paragraph relating to the
Company's plan to dispose of United Companies Life Insurance Company, a
wholly-owned subsidiary of the Company), appearing in and incorporated by
reference in the Annual Report on Form 10-K/A-3 of United Companies Financial
Corporation for the year ended December 31, 1995, and to the reference to us
under the heading "Experts" in the Prospectus, which is part of this
Registration Statement.
 
DELOITTE & TOUCHE LLP
 
Baton Rouge, Louisiana
February 18, 1997