i sold equipment with a lien on it. never paid the equipment off now loan is due, and i dont have any collateral to give back. have not told the lien holder, what should i tell them?
Get a lawyer. You could have a criminal and civil problem.
Well, one thing you can do is to tell them to go fly a kite. The result of that may well be that they sue you. Call them and try to reach a settlement.