WENT IN TO HOCK Meaning and
Definition
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"Went in to hock" is a colloquial phrase that is rooted in the world of finance and borrowing. It characterizes the act of pawning or pledging one's valuables or possessions as collateral in exchange for a loan or cash advance.
When an individual or an organization "goes in to hock," it means that they are confronting financial difficulties and resorting to desperate measures to obtain immediate funds. This may be done by visiting a pawnshop or a pawnbroker, where they offer their valuable belongings such as jewelry, electronics, or antiques as collateral for a loan. In this transaction, the pawnbroker assesses the value of the item and lends a fraction of its worth, typically within a fixed time frame and with accrued interest. If the debtor fails to repay the loan within the agreed period, the pawnbroker gains ownership of the item and can sell it to recoup their money.
The phrase "went in to hock" is often used metaphorically to describe individuals or businesses that find themselves in a precarious financial situation, resorting to risky and potentially damaging measures to secure money. It implies a sense of desperation and urgency, suggesting that the debtor has exhausted other avenues of acquiring funds and is willing to pawn their assets despite potential consequences.
Common Misspellings for WENT IN TO HOCK
- qent in to hock
- aent in to hock
- sent in to hock
- eent in to hock
- 3ent in to hock
- 2ent in to hock
- wwnt in to hock
- wsnt in to hock
- wdnt in to hock
- wrnt in to hock
- w4nt in to hock
- w3nt in to hock
- webt in to hock
- wemt in to hock
- wejt in to hock
- weht in to hock
- wenr in to hock
- wenf in to hock
- weng in to hock
- weny in to hock
