[Sir Krustin]

Larry, your best option is to get an electrician to fix this. Failing that, I'd suggest tracing the wire to somewhere accesible (ie, the basement, or perhaps cutting a hole inside the wall in a closet) and breaking into the line there. Install a junction box, and run a new wire to the old receptacle.

It'll take a little work, but if you have an unfinished basement, and the room is on the ground floor it might be actually easy.

Bear in mind, it's in the electrical code to tie down the cables every so often, so it will be difficult, if not impossible to just tug on the wire and get slack.