Set in Harlem, N.Y., in 1986, Paid in Full tells the story of Ace (Wood Harris), a dry cleaner who covets the expensive cars and flashy clothes of his friends Mitch (Mekhi Phifer) and Calvin (Kevin Carroll). With a chance encounter, Ace’s world suddenly changes. On a routine laundry drop-off, Ace meets Lulu (Esai Morales), whose apartment and elaborate jewelry hint at a life of luxury. Ace is quickly lured into the seductive world of drug dealing, where the easy money affords him a position of power in the illicit underworld.