When an Oakland Pimp, SILKY SLIM, witnesses a notorious drug dealer, Omar killing a trick and Silkys bottom bitch, the FBI wants Silky to testify. Silky doesnt want to get involved because pimpin is his life and he would not know what to do with himself, even if the guy killed his best ho. The FBI forces Silky into testifying or they will come up with some trumped up charges that would be his third strike and can send him to prison for life. The FBI puts him into a witness protection program and puts him into PIMPS ANONYMOUS, so that hell learn how to live a L7, square life.

Silky is put into the program known as Pimps Anonymous reluctantly in New York City, where he learns the twelve steps of recovering from pimpin. There he meets other former pimps and some newcomers like himself; Knee Deep (Emmanuel Lewis), Cognac, Token, the white pimp and his sponsor whos more of a spiritual pimp. As a part of the twelve-steps, Pimps Anonymous helps him to respect women, find his own apartment, teaches him how to grocery shop, pay bills, find a job, etc. All of this is extremely challenging for Silky. As a pimp, hes never done anything on his own, but run them hos!

Now that Silky is all set up with a place to live, new wardrobe and is working on his vocabulary, PA gives him a skills test to see what type of work he would be good for. It turns out hell be good as a commodities/stock broker. Silky agrees but he doesnt know its for the mailroom. Silky cant take working in the mailroom. He storms up to the big bosss office, Will Fosdick, to spank him up! After spitting some serious game, Silky ends up being the big guys best broker.

Silkys life is really taking off. Hes pimping Wallstreet. His sponsor cautions him to be careful. He doesnt want to relapse. During this time, Silky as a result of respecting women, starts falling in like with a ho. The drug dealer that hes going to testify against discovers this and his cronies kidnap the woman. This puts Silky in a predicament. He and his boss go to rescue the woman. The former pimps, from his PA group, knows hes in trouble. They, now, being reformed decide to band together and help a former pimp. This would never have happened in their pimping days. Pimps only look after themselves.

The former pimps using their former pimp tactics take down the drug dealer and Silky is able now to live a happy and Ho-Free life.