The movie begins when a robber (Rickey Smiley), disguised as Santa Claus, breaks into Craig (Ice Cube) and Day-Day’s (Mike Epps) house at 3:37 AM on Christmas Eve. Craig fights with the robber, trashing their apartment while making frantic, futile attempts to wake Day-Day. The robber escapes with Craig and Day-Day’s Christmas presents and rent money. The same morning, the police come over to get a report.

After the police leave, Ms. Pearly (Bebe Drake) comes in and says that if the two do not pay their rent money by the end of the day, she will evict them. Furthermore, she promises to send her homosexual ex-convict son, Damon (Terry Crews), who just got out of prison after twelve years, after them if they do not pay in a timely manner…