If a nut or bolt spins in place, as street ryderz said, its most likely stripped. Before I ever attempt a chop job, first I try vice grips and pull out as hard as I can while turning, usually gets it off. Hope its the nut that is stripped instead of the shaft, although tap and die sets do exist if its the shaft. Only thing I don't like about this situation if it turns out to be the shaft, when a bolt hole strips and you gotta re-tap, it only gets stronger as long as there is enough meat surrounding the hole. When you gotta re-thread a shaft to a smaller size, it only gets weaker... For this very reason, I always try to use nuts made of a weaker metal then the bolt or shaft it's threaded onto, this way insures a cheaper fix. It's alot like how keys are usually made with a weaker metal than the shaft it's used in, cheaper (and usually easier) weak point to replace.