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                                                                      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, 1998 and 1997, as indicated in our report
dated November 13, 1998; 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, 1998, 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, Registration Statement No. 33-63069 on Form S-8
pertaining to the United Companies Financial Corporation Management Incentive
Plan, Registration Statement No. 333-21985 on Form S-3 pertaining to the
registration of $500 million of United Companies Financial Corporation Debt
Securities, Preferred Stock and Common Stock and Registration Statement No.
333-33347 on Form S-8 pertaining to the 1996 Long-Term Incentive Compensation
Plan and the 1996 Non-Employee Director Stock 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 13, 1998