Posts Tagged ‘joey lauren adams’
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In this quote, Joey Adams is using a metaphor to describe what happens during the legal process of declaring bankruptcy. He says that bankruptcy is like putting your money in your pants pocket (keeping whatever funds you have left) while giving your coat to your creditors (relinquishing your other assets to settle your debts).
The quote suggests that bankruptcy essentially allows a person to keep their remaining cash while giving up other possessions to pay off creditors. Adams is painting a vivid yet humorous picture of the financial restructuring that occurs when one files for bankruptcy protection.