I have this cheap little Kobalt 1/8 - 1 1/8 pipe cutter that I had to buy for a single use - 4 cuts in some closet rods.) Now I need to cut a couple of 1/4” toggle (“Molly”) bolts but my bolt cutter is in storage so I figured I’d try the pipe cutter. I easily cut one bolt but now the pipe cutter is stuck in the almost closed position and it won’t open no matter how many times I screw it, so I can’t cut the other bolt. I don’t know if the innards are broken somehow (this tool is new to me and I’m not familiar with its anatomy) or if there’s some simple solution. If any night owl knows what to do, please suggest. I’d like to finish this project tonight if I can, rather than wait til tomorrow to go get the bolt cutter. (Please don’t bash me for this question or mansplain 
- I am aware this is the wrong tool and I already tried the drill + hacksaw method which didn’t work because although my hacksaw has a fine tooth blade it appears to be only good enough for wood.)
Sorry this wasnt earlier
Im surprised the cutting wheel didn’t break.
You likely either adjusted the cutter in too far that it fell off its "track"screw or distorted the adjustment screw. To properly fix would likely require disassembly, maybe removing a c-clip.
Id probably use a pair of pliers or channellocks on the adjustment knob to force it open but theres at least a 50/50 chance it will break the tool.
I dont think youll get 3 more cuts on hard metal out of the wheel. Try using the hacksaw without the drill. You can hold the bolt near the head with pliers or a vise where damaging threads wont matter. Or you can tighten two bolts on against each other and hold these in a vise or pliers. A dremel with cutting wheel is another tool you may have around which will cut the bolts, thread a nut past cut point first.
I know your question is about fixing your pipe cutter, but just in case it helps in the future:
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The hacksaw blade is probably the right one. Fine-tooth blades are for cutting metal. It’s just a slow process. Clamping the bolt firmly will make it go faster.
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If it were me, I’d use a Dremel tool, like bikefrog suggests. Hold the bolt somehow so it can turn without advancing (as it would if it were threaded in a nut). Take many little cuts, holding the Dremel steady and turning the bolt as you go. It will get hot. I’ve cut many pipes and bolts this way. Or I’d use my new Milwaukee cut-off tool.
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There would be less danger of people mansplaining to you if your screen name didn’t announce that you’re a woman. Both bikefrog and I could be men OR women, you can’t tell. People condescend to me all the time (or at least that’s how I could take it), but at least they don’t do it because I’m a woman (or Black, or gay, or whatever). Because they can’t tell.
Good luck!
Thank you both! I will save your answers in case I encounter a similar problem in the future. I actually ended up getting it to work and came back to delete the post so no one’s time would be wasted but couldn’t find the way to do it, meant to come back and look harder but got engrossed in my project and forgot.
Changing my username is not a bad idea so I’ll do it if I need to come back for any reason. Is there a rule that it has to be an animal that does what animals can’t do?
You’re welcome! No need to delete the post. People will still learn from it.
lol No, there’s no rule about user names. 