Top Definition
A medical condition causing discomfort on a localized area of the ass. It is caused by sitting on one's wallet for an extended amount of time. Symptoms include: soreness, redness of afflicted area, complaining. In some areas, it is seen as a sign of social status, implying that one has both a full wallet and plenty of leisure time.
"Man, I got some bad wallet-ass!"

"Well, maybe you shouldn't sit so damn much."
by Richard Oslo October 22, 2007

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